CRI听力:China's Yanzhou Coal Gives up Buying out Aus Yancoal

Chinese coal mining firm Yanzhou Coal has abandoned plans to buyout of Yancoal Australia.

Yanzhou hasn't given any explicit reasons for backing away from the deal, which would have seen Yanzhou take Yancoal private.

The original deal was announced in July.

The deal would have seen Yanzhou buy out the remaining minority investors in Yancoal, then delist from the Australian Stock Exchange.

Yanzhou already holds a 78-percent stake in Yancoal.

Hong Kong-listed Yanzhou, one of China's largest coal mining companies, said at the time of the planned buyout that it could better manage the impact of weak coal prices if it had full control of the Australian unit.

For more on this we're joined live on the line now by Gao Shang, Analyst with Guangtong Futures.