0329 GMT - A possible merger between CICC and China Galaxy Securities via a share swap as per a media report could be plausible in the long term, Citi analysts write in a note. Though the companies denied the report, the market has anticipated a merger between them since early 2024, they add. Both the brokerages are controlled by China Investment Corp. and have had top leadership reshuffles among themselves, Citi notes. A merger could also boost CICC's capital base, they say, adding that the merged entity could be the third biggest in China in terms of total assets and revenue.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 26, 2025 22:29 ET (03:29 GMT)
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