Great Wall Motor Halts Trading After BMW Tie-Up Reports
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Great Wall Motor Co., China’s biggest SUV maker, halted trading in its Hong Kong shares after they surged on media reports the company plans a tie-up with BMW AG.
Trading will be suspended pending clarification of press articles, the company said in a statement. The stock jumped 14 percent on Wednesday after www.iautodaily.com, a Chinese website, reported Great Wall and BMW will set up a joint venture in China and are selecting a venue to build a manufacturing plant. A BMW executive familiar with the matter told Reuters the report was "generally true."