China's Haitong Sec says to acquire HK's Taifook Sec

SHANGHAI Nov 23 (Reuters) - China's Haitong Securities (600837.SS) said on Monday it wuld buy a 52.86 percent stake in Hong Kong's Taifook Securities Group (0665.HK) for HK$1.82 billion ($235 million).

Shares in the companies had been suspended from trade last week following media reports that Haitong planned to buy control of Taifook in the first purchase of a Hong Kong brokerage by a mainland securities house. [ID:nSHA42428] ($1=7.750 Hong Kong Dollar) (Reporting by Samuel Shen and Edmund Klamann; Editing by Jonathan Hopfner) ((edmund.klamann@reuters.com; +86 21 6104 1799; Reuters Messaging: edmund.klamann.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))