China SAIC suspends shares; tie-up seen possible

Newswire

SHANGHAI, Dec 25 (Reuters) - Top Chinese car maker SAIC Motor Corp said on Tuesday that trade in its shares would be suspended for one day on Wednesday, pending the announcement of "important news". SAIC did not elaborate. Industry sources told Reuters two weeks ago that SAIC and smaller rival Nanjing Automobile Group had agreed in principle on a tie-up, and that a binding agreement was expected to be signed by the end of this month. Under the deal, Nanjing Auto, owner of the classic MG ...

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