Shunfeng shares set to jump 12.6 pct after it wins bid to buy Suntech unit
HONG KONG Nov 4 (Reuters) - Shares of China's Shunfeng Photovoltaic International Ltd were set to jump 12.6 percent on Monday after it said late on Friday it had agreed to by the main unit of Suntech Power for $492 million.
Reuters had reported in October, quoting two sources close to the matter, that Shunfeng had signed a preliminary deal to buy Wuxi Suntech Power Co.
The Hong Kong-listed shares of Shunfeng were set to open up nearly 13 percent at HK$6.00, outpacing a 0.3 percent gain for the benchmark Hang Seng Index.
- Tesla says in talks with BMW over car batteries, parts
- Exclusive: China ready to cut rates again on fears of deflation - sources
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
- China building South China Sea island big enough for airstrip: report
- Suicide bomber kills 45 at volleyball match in Afghanistan