COPY : 9436   DATE : 10.8.15




COSCO & CSCL confirm merger plan




COSCO and China Shipping sources have just confirmed to PR News Service, that preliminary talks between the two lines have taken place “in recent days over a possible merger”




A working window of “up to three months” has been proposed by the lines in order to put together the final merger plan




Beyond that, nothing can be revealed as yet, apart from clarifying this is only linked to the container shipping of the lines’ businesses




Meanwhile shares in both companies and their listed susbsidiaries on the Shanghai and Hong Kong stock exchanges, have ceased trading




COSCO is a member line of the CKYH Alliance, and China Shipping is part of the Ocean Three agreement