MCC shares slump in wake of merger with Minmetals

Combining SOEs will deliver strong global competitive advantages

Metallurgical Corp of China Ltd saw its shares slump 10.01 percent on Wednesday, after an official announcement the previous day of it being folded into China Minmetals Corp, the country's biggest steel and base metals trader, as a wholly owned subsidiary.

Shares in Metallurgical Corp, or MCC, a State-owned engineering and mining group, had been suspended since August pending consideration of "significant matters", and had missed the losses suffered by the wider stock market.