July 23, 2009

Chery to Merge, Rebrand, IPO

Chery, China's most talked about automaker, will at last sell shares with a planned IPO this year. No details or date available but Chery did confirm the company is performing due diligence in preparation for an IPO. Reports are Chery may merge with Anhui Jianghuai Automobile Co or JAC as part of Beijing's direction to consoliate the car making business. The new conglomerate would be called Da-An Motors. Of greatest interest - will there be a foreign IPO to follow?....

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Why conglomerates? Why does China have the worst economic system? Conglomerates strangle competition!
China models everything on US to have "big 3" for all pillar industrys but look what happened in US to Big 3?
Hugo L. is strange and his economic analysis errors.
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