Two of China’s largest state energy companies have submitted merger plans to regulators.
News that Shenhua Group and China Guodian had applied to China’s State Council for merger approval was confirmed this week by comments a Guodian executive made during an energy conference.
If approved, the resulting entity would be the world’s largest utility provider by capacity. It would command combined assets of $236bn, according to Bloomberg data, and enjoy unparalleled negotiating powers with state coal and power firms.
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