China’s securities watchdog has approved a merger deal between China South Locomotive & Rolling Stock, with CSR. The approval, issued by the China Securities Regulatory Commission, will be valid for 12 months.
In 2000, China National Railway Locomotive & Rolling Stock Industry Corp was split into CSR and CNR, in order to create a geographically-based competition mechanism to boost development. However, with both expanding their business, such regional differentiation no longer exists.
The merger hopes facilitate integration of China’s high-speed train resources, reduce internal price wars.
Full Content: Bloomberg
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