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 [...]
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. [...]
FOCUS: China M&A Seen Robust Despite New Antitrust Laws
Last Update: 9/2/2008 12:58:41 PM
By Marietta Cauchi
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)–The surging Chinese M&A market faces new barriers but is
unlikely to stall as foreign buyers remain attracted by the region’s growth,
observers say.
Over the last year or so international companies [...]
China Construction Bank Cuts Fannie, Freddie Bond, MBS Hldgs
Last Update: 8/25/2008 5:52:47 AM
BEIJING (Dow Jones)–China Construction Bank Corp. (0939.HK) said Monday it had
cut its holdings of bonds and mortgage-backed securities related to Fannie Mae
(FNM) and Freddie Mac (FRE) to just above US$2 billion by the end of July from
US$3.2 billion at the end of June.
CCB [...]
UPDATE: China: Four Banks Apply To Take Stakes In Insurers
Last Update: 7/29/2008 3:02:51 AM
(Adds quotes from regulator, first-half data on insurance companies’
investments.)
BEIJING (Dow Jones)–China’s insurance regulator has received applications from
four banks to take stakes in insurance companies, an official at the regulator
said Tuesday.
Industrial & Commercial Bank of China Ltd. (1398.HK), China Construction Bank
Corp. (0939.HK), Bank [...]
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!