Official confirms Baosteel-Shaoguan merger talks

摘要

China's largest steelmaker, Shanghai Baosteel Group Corp (Baogang), is in talks with Guangdong Shaoguan Iron & Steel Co about a possible merger, a government official said. There has been speculation in the market that the two companies have signed a framework deal for merger, but the official, who works for the dept of planning & development under Guangdong province's state-owned asset supervision & administration commission, said his department has yet to be informed of the move.