Trading Suspended on Talks of COSCO, China Shipping Merger

(Shanghai) – The listed subsidiaries of two major state-owned shipping companies saw their shares suspended on news of a possible merger.

A share trading halt on the subsidiaries of China Ocean Shipping Co. (COSCO Group) and China Shipping Co. came into effect on August 10, according to announcements by the listed subsidiaries.

The central government urged the two companies to draft a preliminary merger plan within three months starting from August, said an executive from COSCO Group.