Top China Brokerages CSC Financial, Citic Securities in Merger Talks, Bloomberg Reports

–CSC Financial Co. and Citic Securities Co., China’s two biggest brokerages, have begun due diligence and a feasibility study to potentially merge into a company that can better compete with global investment banks, Bloomberg reports, citing unnamed sources.
–The merger, which would create an investment bank valued at $67 billion at a time when China is opening up its financial markets, has been discussed with regulators, according to Bloomberg.