Dongfeng Surges as Restructuring News Sparks Consolidation Hope
Shares in Dongfeng Motor Group Co. surged almost 90% in Hong Kong after the Chinese automaker said its parent company plans to restructure, a move investors speculated could kick start consolidation in the nation's ultra competitive car market.
Dongfeng Motor Corp. is planning a restructuring with other central state-owned enterprise groups that may lead to a change in its controlling shareholder, Dongfeng Motor Group said in an exchange filing Sunday.
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