China plans to auction one unprofitable state-owned railway – xinhua
From Xinhua via People’s Daily Online:
The state-owned Luoding Railway Co., an unprofitable coal carrier servicing two undeveloped cities in South China’s Guangdong Province, has been announced for auction at the website of Guangzhou Enterprises Mergers & Acquisitions Services last week.
An official with the Guangzhou Enterprises Mergers & Acquisitions Services told Xinhua Sunday that it’s the first time for the agency to deal with an auction on a railway company’s total assets. [Full Text]