From Bloomberg: Bank of America Corp.’s plan to sell about $2.8 billion of shares in China Construction Bank Corp. was undone by a Chinese securities law provision that would have forced it to forfeit profits from the sale, two people familiar with the matter said.

Central Huijin Investment Co., a unit of China’s $200 billion sovereign wealth fund, has a controlling 57.06 percent stake in China Construction. The Chinese government has said it wants to keep absolute control of the nation’s biggest lenders….. Full Article: Source