Cosco Group and China Shipping Group are likely to receive the go-ahead from Beijing for their merger draft plan at the end of this year, according to a source familiar with the matter. After receiving approval, the two giants and their subsidiaries will begin to restructure their debts, and a formal announcement about the consolidation can be expected early next year, the source said. Many observers have reckoned that both companies will merge their container shipping businesses first, due to the economies of scale which can be created in the sector.
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