Rumors
have been circulating about a possible merger between Sinotrans and
the China Merchants Group. Sinotrans party secretary and general
manager Zhao Huxiang denied the rumors on Sunday, The
Beijing News reports. Zhao, who
just recently was installed at the company, said that he was given no
indication that a merger was in the works, and that those spreading
the rumors had a misunderstanding of the way state-owned companies
operate.
The
SASAC on 27 December last year issued a memo indicating that future
plans were for Sinotrans to develop in an international direction.
Link:
http://economy.thebeijingnews.com/0392/2006/0206/011@158952.htm