Baosteel (600019.SH) refutes rumor of merger with WISCO (600005.SH)
BEIJING, Mar. 24 (Xinhua) -- China's leading steelmaker Baosteel (600019.SH) on late Monday refuted rumors of its merger with Wuhan Iron and Steel Company (WISCO, 600005.SH).
On Monday, rumors of a merger between the above two steelmakers were reported by some media as they believed that the merger would meet the country's goal of building three to five ultra-large steel conglomerates by 2025.
However, after enquiries, its controlling shareholder Baosteel Group and the company did not receive any information about the merger from government departments either verbally or in writing. No government departments expressed the intention of such kind, or held discussions with the company or WISCO about the matter, according to Baosteel's filing to the stock exchange. (Edited by Hu Pingchao, email@example.com)