SMM News: Chinalco recently answered questions from investors on the interactive platform of the Shanghai Stock Exchange, saying that on January 2, 2019, the company received the notice of the controlling shareholder Chinalco "on the completion of the examination and approval procedure for the free transfer of state-owned shares by wholly owned subsidiaries and the issuance of a letter of commitment to avoid peer competition." China Copper has accepted the free transfer of 51% of the state-owned shares of Yunye Group. Due to the competition between Yunal shares of Yunye Group and the company in alumina and electrolytic aluminum business, Chinalco Group, as the indirect controlling shareholder of Yunye shares and the direct controlling shareholder of the company, in order to properly solve the above-mentioned problem of peer competition, issued to the company a letter of commitment to avoid competition with the same industry of Chinalco Co., Ltd. It is promised that Chinalco will begin to plan the integration of Chinalco and Yunalco's competitive business within 2019, and promise to solve the problem of peer competition between Chinalco and Yunalco within five years.
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