Shares in China's biggest coal producer and one of the country's biggest power generators both jumped on Monday after reports that the two were in talks to merge.
Hong Kong-listed China Shenhua Energy said it received a notice from its controlling shareholder, the state-owned coal producer Shenhua Group Corporation, that it was planning “significant matter(s) involving the company”.
香港上市的中国神华能源(China Shenhua Energy)表示已收到控股股东——国有煤炭生产商神华集团(Shenhua Group Corporation)的通知，称其“拟筹划涉及本公司的重大事项。”<-->纽约时报中英文网 http://www.qqenglish.com<-->
Guodian Technology and Environment Group said its controlling shareholder, state-owned China Guodian Corporation, had informed it of a “proposed planning of a significant event”.
国电科技环保集团(Guodian Technology and Environment Group)表示，其控股股东——国有的中国国电集团(China Guodian Corporation)已通知其“拟筹划重大事项”。
Shares in Hong Kong-listed Guodian Technology jumped up by 17.2 per cent on Monday, easing from a gain of as much as 25.3 per cent . Shenhua’s HK-listed shares gained as much as 4.2 per cent before easing to be 2.9 per cent higher.
Beijing is seeking to reform state-owned enterprises and steer the economy away from an over dependence on heavy industry.
Chinese power generator China Datang Corporation in March denied media reports the regulator for state-owned enterprises had asked it to merge with Shenhua.
中国发电企业中国大唐集团(China Datang Corporation)曾于3月份否认有关国企监管机构要求其与神华合并的媒体报道。