In response to the news of the “weibo of the national finance commission (ncc) pushing the integration of north-south vehicles”, the two-done south china vehicles (5. 22,0. 00, 0. 00 per cent) (601766, sh) and the north china vehicle (5. 12,0. 00, 0. 00 per cent) (60,1299, sh) issued clarifications last night (4 september)。
It's interesting that the merger was not reported to the ntc except for double denials. In addition, as soon as the parties had changed their previous strong denials of the merger, the unified communiqué stated: “the matter of the reorganization of the conglomerate is left to the higher authority, and the controlling shareholders of the company have not received the relevant documents.”
From the former “no chance” to the present “to be determined by the higher authorities”, the north-south vehicle has become less integrated. “this means that the rumors of merger are not empty.” many practitioners have read it. It is worth noting that, according to a wide range of journalists in daily economic news, chinese iron construction (5. 17,0. 05, 0. 98 per cent) (60186, sh) has also recently been reorganizing china's leading subsidiary responsible for overseas operations, china land and wood engineering group ltd. (hereinafter referred to as china-turkish group), in common with north and south vehicles, in order to better promote china's high iron out of the sea。
According to a number of practitioners, it was not excluded that the national strategy on high-speed access to the sea would lead to a comprehensive reorganization of business-related activities for the enterprises concerned。
“at the discretion of the higher authority”/
Indeed, on 2 september, a journalist for the daily economic news also learned from a railway source that, in order to cope with high iron and other rail transport equipment and to avoid harmful international competition, the nec is promoting the integration of south and north china vehicles。
On 3 september, finzin reported that it had been confirmed from the china railways general company, the national finance commission and a number of sources inside the chinese north-south vehicle that the national finance commission was pushing the south and north of china to regroup into a single company in order to facilitate china's exports of high iron technology. It also stated that the merger was under discussion within the national council for reform, that the programme was still under development and that the north-south vehicle had reported on the merger。
In response, the north-south clarification last night did not directly deny it, but issued two identical statements in response to media reports: “1 and upon consultation with the company's controlling shareholders, matters relating to the reorganization of the conglomerate were decided by the higher authorities, and the company's controlling shareholders have not received the relevant documentation. 2. The company and its controlling shareholders did not report to the ncec a programme for the merger of the chinese north and south vehicles.”
This is not the first time that the north/south vehicle has provided clarifications in response to the merger. Public information indicates that the north-south vehicle had publicly denied the merger as far back as late 2010 and in 2011, but at that time both sides were extremely aggressive, using terms similar to “never heard of the matter” or “never possible”. Last night's announcement, which left the decision on reorganization to the “super-departmental authorities”, was the same change in wording that gave greater imagination to the outside world。
A senior rail trafficer who had experienced the break-up of the north-south vehicles had said to journalists that it would be easy for the state to push it, whether it had been split up or now to regroup. It took only a few months or less, albeit a little hasty, “if combined, the time will be fast”
Integrating scenarios
Http://d1. Sina. Com. Cn/2014/08/20/568049 200X300. Jpg
There is also much speculation within the industry about the integration programme for the north-south vehicles. Despite the denial that the merger programme had been reported, according to previous reports by the financial news network, it had been revealed that the south vehicle programme was for the north to leave the market, that the south vehicle had absorbed the north in an increased way and that the north vehicle's assets had been integrated into the south, and that the north would have preferred the north and south to establish a new group managed by the national finance commission to head two listed companies. In addition, it was suggested that emphasis could be placed on integrating the overseas operations of north and south vehicles in order to avoid virulent competition from abroad and to improve the competitiveness of access to the sea。
In response, the above-mentioned senior orbital trafficr analysed the daily economic news reporter, and the programme was more like a north-south vehicle that deliberately threw out a challenge to the merger. In his view, a better option would be to unify the operations of the north-south motor group into two main blocks: “orbit traffic r & d manufacturing” and “other”. “other” would mean new industries, investment banks, which include civilian diesel engines, large gear tanks, and north-south vehicles, each of which has invested in recent years. All that needed to be integrated was the “orbit traffic r & d manufacturing” operation, which was led by the national investment commission to form a new consortium。
There is concern that the merger may lead to a monopoly, which is the main reason why iron is always opposed by the largest customer in the north and south. According to the above-mentioned senior orbital transporter, the orbital transport manufacturing companies under the respective jurisdiction of the north and south vehicles, whether in the current case of splits or in the event of a future reorganization into a group, may still be independent corporate legal persons and may still, as at present, be in competitive competition with each other at the time of the publication of the bid information by the central african republic. In addition, there are military engineers and civil orbital manufacturing enterprises involved in competition。
Responsible editor: zhang dei
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