SINGAPORE (Reuters) - China Minmetals Corp and China National Gold Group are unaware of any merger talks between the two companies, their listed units said on Wednesday, after a Reuters report on a possible deal caused a rally in their shares.
Sources with knowledge of the matter told Reuters on Tuesday that China was considering a merger between the two major metals and mining firms as Beijing pushed to consolidate its bloated state-run enterprises to help increase efficiency and competitiveness.
"After checking with the company's owner China Minmetals Group, the group said it was not aware of a merger deal and had not been notified by relevant authorities on the matter," the listed units said in similar statements.
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The China Minmetals' subsidiaries that issued statements include China Minmetals Rare Earth Co Ltd <000831.SZ>, China Tungsten And Hightech Materials Co Ltd <000657.SZ>, Minmetals Development Co Ltd <600058.SS>, Minmetals Capital Co Ltd <600390.SS> and Zhuzhou Smelter Group Co Ltd <600961.SS>.
On Wednesday, the five listed companies' shares ended up between 4.6 percent and 10 percent.
China National Gold's unit Zhongjin Gold Corp Ltd <600489.SS>, whose stock rose 6 percent, also issued similar comments.
(Reporting by Lee Chyen Yee in Singapore and Meg Shen in Hong Kong; Editing by Adrian Croft)