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Www Mortgagenewshomeloans Author BarryWright Mortgage News Home Loans Chinese Consortium Buys CCB Stake Sold by Bank of America

Www Mortgagenewshomeloans Author BarryWright Mortgage News Home Loans

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English > Finance > Finance-newsbrief>Chinese Consortium Buys CCB Stake Sold by Bank of America

Chinese Consortium Buys CCB Stake Sold by Bank of America

09-05 17:54 Caijing


» A Chinese consortium was the biggest buyers of the China Construction Bank stake that Bank of America sold last month, the Financial Times reported, quoting several people familiar with the deal.

» The report said that the State Administration of Foreign Exchange, the national Social Security Fund and Citic Securities bought the CCB shares.

» Bank of America sold about 13.1 billion H shares of CCB for 8.3 billion U.S. dollars on August 29. The bank still holds about 5 percent of stake in CCB after the cut.

 

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