China's Sinochem chief dismisses ChemChina merger reports as 'rumour'

Media reports of a merger of Chinese state-owned chemical firms Sinochem Group and ChemChina, which is finalising a $43 billion takeover of Swiss pesticides and seed group Syngenta are just rumours, Sinochem Group Chairman Ning Gaoning said. Sources told Reuters in October that Sinochem and ChemChina were in discussions about a possible merger to create a chemicals, fertiliser and oil giant with almost $100 billion in annual revenue. "No, no, it has been a rumour for a long while," said Sinochem