Haitong Sec says to acquire HK's Taifook Sec

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Reuters

SHANGHAI - China's Haitong Securities said it would buy a 52.86 per cent stake in Hong Kong's Taifook Securities Group for $HK1.82 billion ($US235 million).

Shares in the companies had been suspended from trade last week following media reports that Haitong planned to buy control of Taifook in the first purchase of a Hong Kong brokerage by a mainland securities house.

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