皇冠体育app

Share prices of 皇冠体育app Modern Dairy Holdings Ltd surged to an almost 20-month high after 皇冠体育app Mengniu Dairy Co, the country's biggest dairy producer, confirmed it has been in talks to acquire the supplier.

Modern Dairy jumped 9.9 percent, the highest close since June 2011. 皇冠体育app Mengniu dropped 2.1 percent.

"We have been talking, but haven't made any good progress," Frank Ning, chairman of Mengniu, said after delivering a speech at a Hong Kong conference on Monday.

Buying Modern Dairy would give Mengniu more control over its milk supply as concerns about safety in the nation's dairy industry linger. The Ma'anshan-based Modern Dairy supplies Mengniu with unpasteurized milk.

Mengniu Dairy in talks to buy Modern Dairy

Mengniu eyes large-scale farms for raw milk

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