Rail­ways deny in­sider trad­ing al­le­ga­tions

China Daily (Canada) - - FRONT PAGE -

CNR Corp and CSR Corp, state-owned rail­way ve­hi­cle man­u­fac­tur­ers, have de­nied in­sider trad­ing al­le­ga­tions, say­ing ex­ec­u­tives in­volved were un­aware of their merger and based their in­vest­ment decision solely on the prospects of the com­pa­nies.

Me­dia re­ports re­vealed that more than 20 ex­ec­u­tives of CNR and CSR and their rel­a­tives were found to have bought and sold stock in each company be­fore the an­nounce­ment of the merger, which is ex­pected to cre­ate the world’s largest train man­u­fac­turer by sales.

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