武钢与宝钢将重组
Two major Chinese steel companies announced restructuring plans on Sunday.
中国两家大型钢铁公司周日宣布重组计划。
In separate statements, Wuhan Iron and Steel and the Shanghai-based Baosteel said that they were planning for "strategic restructuring" and trading of their shares would be suspended starting Monday.
The final restructuring plans, however, were yet to be confirmed and endorsed by supervisory bodies.
This comes amid year-long rumors about a possible merger between Baosteel Group and Wuhan Iron and Steel.
Baosteel is China's largest iron and steel company and the fifth in the world while Wuhan Iron and Steel ranks the sixth in the country.