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HWL Intends to Buy B Share of Shanghai Dazhong Transport
Hutchison Whampoa Limited (HWL), a Hong Kong-based diversified, transnational conglomerate, intends to be a shareholder of Shanghai Dazhong Transport Group. It is inclined to hold a large proportion of the group's equity in a move to help develop China's interflow of commodities in Shanghai and east China areas, according to Yang Guoping, general manager and managing director of Shanghai Dazhong.
According to Mingpao Daily, the negotiation between the two sides have been going on for about half a year, but no agreement has so far been concluded. Spokesman of HWL said that the company would not give any response to market hearsay.
Yang said that except HWL, UPS and DHL are also in negotiation with Dazhong in quest for developing interflow business of commodities in China's mainland.
By PD Online staff member Li Yan
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