CRI听力:China Trainmakers CSR, CNR to Merge Soon
China's top trainmakers CSR and CNR have confirmed earlier reports saying they are in merger talks.
Details will be released this weekend.
Earlier reports said the two firms have set up working groups to discuss the integration.
The investment bank China International Capital Corporation has been appointed to oversee the reorganization, with the State Council in charge of the whole plan.
Media outlets have speculated that "unhealthy competition" between the two has spurred the conversation about combining assets and resources.
But other reports also suggest that the integration aims to create a giant that can compete globally with rivals like Germany's Siemens and Canada's Bombardier.
Both CSR and CNR halted trading on Monday and subsequently issued statements saying they would resolve major issues as soon as possible.
They also added trading would resume in five working days.
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