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Investing.com -- Chinese automakers Dongfeng Motor and Chongqing Changan Automobile are reportedly in advanced discussions to merge their operations. This information was disclosed by the New York Times (NYSE:NYT) on Tuesday, citing sources knowledgeable about the matter.
Both companies, which are controlled by the central government, have engaged in detailed talks on how to combine their operations. They have also informed their foreign partners about these ongoing merger discussions.
Rumors about a possible merger between these two automakers started circulating in February. This was after both companies announced that their respective parent companies, which are fully owned by the central government, were planning a restructuring. The central government also holds majority ownership of Dongfeng Motor and Changan Auto.
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