CHINA GOES NUCLEAR
REUTERS - China National Nuclear Corp (CNNC), China's No. 2 nuclear power producer, will take over the country's top nuclear power plant builder to create a company worth almost $100 billion, the latest state-orchestrated marriage in the nation's vast power sector.
The deal has been in works for almost a year as Beijing has pushed to streamline its bloated state-owned enterprise (SOE) sector, tackle rising corporate debt and make businesses more profitable through mergers, reductions in excess capacity and the closure of "zombie" firms.
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