中国远洋运输与中国海运即将合并
The State Council has cleared the merger deal of China Ocean Shipping Group and China Shipping Group, Caixin magazine said on Thursday quoting sources close to the matter.
《财新》杂志周四援引相关消息来源报道，国务院同意了中国远洋运输集团与中国海运集团的合并协议。
The merged entity, China Cosco Shipping Group, will be headquartered in Shanghai, the magazine said, adding that the preliminary integration scheme will be announced on Friday.
Once completed, it would create the world's fourth-largest container operator, after Denmark's AP Moller Maersk Group, Switzerland's Mediterranean Shipping Co and France's CMA CGM SA.
The deal is also part of the ongoing government efforts to consolidate the operations of major State-owned undertakings so that they can fully leverage their advantages and resources in the global arena.
Listed companies under the two State-owned giants saw their shares soar on Thursday, after the Caixin report.
China International Marine Containers Group shares rose by 10.02 percent on Thursday, while shares of China Shipping Haisheng Co Ltd went up by 6.76 percent.