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China: Power firm sees $2B holdings spike following defunct merger

By  |  July 22, 2013

China Resources Power saw a 5 percent stock spike following news of a failed merger with China Resources Gas, reports say. China Resources Power shareholders voted against the deal, though the 64 percent vote against the merger was expected; a revived offer cannot be proposed for at least a year. The energy conglomerate’s shares fell after it announced plans to buy a 30 percent stake I CR Gas; the company reportedly fell to a seven-month low by the end of June.

Full Content: South China Morning Post

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