Malaysia's Edaran shares halted amid merger talk
KUALA LUMPUR, April 25 (Reuters) - Shares in Malaysian car distributor Edaran Otomobil Nasional (EON) (EONK.KL: Quote, Profile, Research, Stock Buzz) were halted from trade on Friday, amid talk that it could be merging with the distribution arm of car-maker Proton Holdings Bhd (PROT.KL: Quote, Profile, Research, Stock Buzz).
EON had yet to make an announcement to the stock exchange.
Earlier, the Business Times said EON and state-controlled Proton were set to enter talks as early as Friday over merging their car-distribution businesses.
A merger would allow Proton to focus solely on manufacturing and create a distribution business with annual sales of more than 2 billion ringgit ($637 million), the Business Times added. (Reporting by Mark Bendeich; Editing by Naveen Thukral)
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