19.12.2008 - Bank of America CCB stake sale plan scuttled by Chinese rule
From Bloomberg: Bank of America Corp.ís 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 Chinaís $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 nationís biggest lenders..... Full Article: Source
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