Coastal Ports News
- Tianjin Port denies merger with HK affiliate
Date: 13-Sep-2007 Sources: (Shenzhen Daily)
TIANJIN Port (Group) Co. said yesterday it has no plan to merge with Hong Kong-listed affiliate Tianjin Port Development Holdings, denying recent media reports.
Several local and overseas media reports last week cited Yu Rumin, chairman of both Tianjin Port and Tianjin Port Development, as saying the two were planning to merge to facilitate fundraising overseas. In a statement, Shanghai-listed Tianjin Port said that Yu made no mention of a merger when talking to media and that the firm had no plans to merge with and had never discussed a merger with Tianjin Port Development.
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