The companies are in detailed talks about an all-stock consolidation that could be announced in the coming weeks, according to the report.
As of November, Shaftesbury owned around 600 properties in the heart of London’s West End, which includes Carnaby Stock Exchange and Chinatown.
In June 2020, Capital & Counties Properties (Capco) bought a 26.3% stake in Shaftesbury from Hong Kong tycoon Samuel Tak Lee for 436 million pounds ($537.85 million).
Shaftesbury and Capco did not immediately respond to a Reuters request for comment.
($1 = 0.8106 pounds)