CICC, China Investment Securities 'in merger talks'

Investment bank China International Capital Corp and brokerage China Investment Securities Co, firms with 186 billion yuan ($28 billion) of combined assets last year, are in talks on a possible merger, people familiar with the matter said.

There's no certainty the talks will lead to a transaction, and the structure of any deal is yet to be decided, the people said, asking not to be identified because the discussions are private.

CICC's shares jumped on the news, up 1.52 percent to close at HK$11.96 ($1.54) on Monday.