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Banks

China's CITIC Securities and China Securities both say not aware of merger talks

BEIJING (Reuters) - China's CITIC Securities Co Ltd 600030.SS6030.HK and China Securities Co Ltd 601066.SS6066.HK said on Tuesday they were not aware of any merger talks between the pair after a media report suggested a possible tie up.

The two Chinese brokerages made the comments in separate statements filed to the Shanghai and Hong Kong exchanges.

China Securities added that it hadn’t been given either oral or written notice from any government department regarding such a move. Both brokerage firms said they do not have further information to disclose at this point.

Bloomberg News earlier reported that China had started the process of potentially merging its two biggest brokerage firms.

Reporting by Cheng Leng and Ryan Woo; Editing by Kirsten Donovan

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