Categories
· Business (Tobacco)
non-USA, by Country
· China
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Jump to full article: AP, 2008-08-26
Intro: Two Chinese tobacco companies are merging to form the world's fourth-largest cigarette producer by volume, a financial newspaper reported Tuesday.
Hongyun Group and Honghe Group signed a letter of intent Monday, the newspaper 21st Century Business Herald said, citing Li Weidong, an executive of their parent company, China Tobacco Yunnan Industrial Corp. It said the deal requires approval from China's State Tobacco Monopoly Administration.
A woman who answered the phone at Hongyun's press office and refused to give her name declined to say whether a merger was planned.
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