18.04.2012 - Temasek buys into China banking monopolies
The Singaporean government's sovereign wealth fund, Temasek Holdings, has purchased a $2.3 billion stake in the Industrial and Commercial Bank of China, buying 3.55 billion Hong Kong-listed shares from Goldman Sachs. ICBC was the world's most profitable lender last month, after it reported a 17% increase in fourth-quarter income over a year earlier. The purchase signals Temasek's increasing confidence that China's state-owned banks, which continue to enjoy a monopoly, are an attractive investment...............................................Full Article: Source
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