Home Asia Chinese shipping firm to buy Hong Kong rival for $6b
Chinese shipping firm to buy Hong Kong rival for $6b
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Chinese shipping firm to buy Hong Kong rival for $6b

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Image result for Chinese shipping company, COSCOChinese shipping company, COSCO, is set to buy over its Hong Kong rival, OOIL in a deal that will make its the third biggest shipping firm in the world.

The deal is valued above $6 billion dollars.

Report says the directors of the two companies have accepted the deal in principle and are working to perfect all contractual agreements.

It is the latest development in shipping mergers.

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