CRI Home - Photo- Forums - Talk China - Surf China - About China -  
  Webcast | CRI Today | China | World | Biz | SciTech | Sports | Life | Showbiz | Easy FM | Learn Chinese / English | Weather | Events
 
 
 
 
Bank of China Eyes 4 Foreign Investors
2005-8-8 10:28:54      Reuters
Four foreign investors are poised to spend $6 billion for a nearly 25 percent stake in Bank of China, a leading financial magazine says in its latest edition.

The deal would involve Royal Bank of Scotland , Singapore's state investment agency Temasek Holdings, Swiss investment bank UBS and the Asian Development Bank, Caijing magazine said in its cover story seen on Monday.

Roayl Bank of Scotland and Temasek would each acquire 9.9 percent stakes in Bank of China while UBS and the ADB would jointly hold 5 percent, it said, citing an unidentified source familiar with the deal.

A deal would be a major milestone for the bank, China's largest foreign exchange lender, which has been trying to attract strategic foreign investors as it overhauls operations and prepares for a multi-billion dollar stock listing this year.

Last week a source familiar with the talks told Reuters that Royal Bank of Scotland was discussing taking a possible $2.5 billion stake in Bank of China.

On Thursday, Royal Bank of Scotland Chief Executive Fred Goodwin moved to soothe investor concerns that the bank was entering an opaque market in which it is relatively inexperienced, saying it was "looking rather than leaping".


        Talk China        Print        Email        Recommend
 
Related Stories:
v NO Change of Timetable for BOC IPO 07-25
v UBS in Talks to Buy BOC Stake 06-21
v Bank of China Prepares for IPOs 05-31
v BOC as Olympic Partner 04-19

  Copyright of crienglish.com. All rights reserved.

Reproduction of text for non-commercial purposes is permitted provided that both the source and author are acknowledged and a notifying email is sent to us.
 
 

 
postalChina Post is progressing with its scheme to merge its two sub-businesses.
textilePeter Mandelson said he would hold talks with Bo Xilai this week.
YahooChinese e-commerce operator Alibaba.com is in the late stages of talks to sell a 35 percent stake to Yahoo Inc.
BOC IPO Could Take Place in 2005
China, Hong Kong, Japan, and Aussie Market Roundup 
CNOOC's Market Value Up By $7b
Producer Price Index Rises
Lenovo Profit Up 6% After IBM PC Buy
Power Supply Sees Robust Growth
HK Urges Manufacturers to Go "Green"
Major HK Banks's Interest Rate Hike
China Mobile First-Half Profit Rises