By David Mildenberg
Nov. 17 (Bloomberg) — Bank of America Corp., the company that’s buying Merrill Lynch & Co., plans to almost double its stake in China Construction Bank Corp. to about 19.1 percent.
Bank of America will exercise its option to buy shares in China Construction from China SAFE Investments Limited, the Charlotte, North Carolina-based company [...]
NEW YORK (MarketWatch) — China’s central bank said Wednesday it is cutting key one-year interest rates. The People’s Bank of China said on its Web site that it was reducing the benchmark one-year deposit rate by 27 basis points to 3.60% from 3.87%. It also cut the one-year lending rate 27 basis points to 6.66% [...]
HONG KONG (Dow Jones)–Bank of America Corp. (BAC), which has just completed a US$10 billion stock offering to shore up its finances, said late Wednesday it is committed to keeping a “major” part of its 10.8% stake in China Construction Bank Corp. (0939.HK).
The comment suggests the biggest U.S. bank by market value and deposits [...]
TIANJIN, China (Dow Jones)–China International Capital Corp. Chairman Li Jiange
said Sunday that as an investment bank CICC doesn’t have sufficient capital to
make overseas acquisitions.
Li, who took up his post in July, made the comment on the sidelines of the World
Economic Forum in response to a reporter’s question about whether CICC is
planning any overseas acquisitions.
The U.S. [...]
Bank Of America To Buy 6B China Construction Bank H-Shrs
Last Update: 5/27/2008 8:23:53 AM
DOW JONES NEWSWIRES
Bank of America Corp. (BAC) plans to exercise part of the option it has to buy
more common shares of China Construction Bank Corp. (CICHF).
The company, of Charlotte, said the option would be exercised under an agreement
Bank of America has with [...]
Stumble It!