Merger talk boosts power firm shares

New Straits Times - - Business -

BEI­JING: Shares of Chi­nese coal­fired power gen­er­a­tors surged yes­ter­day as the coun­try was said to be con­sid­er­ing plans to cre­ate three energy gi­ants through merg­ers of eight com­pa­nies with com­bined as­sets of al­most 5.9 tril­lion yuan (RM3.71 tril­lion).

The pro­posal, which was only one op­tion be­ing con­sid­ered as the govern­ment of Pres­i­dent Xi Jin­ping sought to re­struc­ture the power sec­tor, hadn’t been fi­nalised and was sub­ject to change, ac­cord­ing to peo­ple with knowl­edge of the plan.

The three planned power gi­ants would be cre­ated through the fol­low­ing com­bi­na­tions:

China Hua­dian and China Guo­dian Corp, two of the big­gest coal-fired power gen­er­a­tors, may

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