BIZCHINA / Biz Media Digest |
Finance: Agricultural bank buy-in?(Shanghai Daily)Updated: 2006-12-11 13:57 The Agricultural Bank of China, the country's third-largest bank, may have China Life Insurance Co as a strategic investor after a reorganization, the Shanghai Securities News reported, without saying where it obtained the information. Agricultural Bank may invite domestic companies to take stakes amid concern that foreign investors are profiting "substantially" from the restructuring of China's banks, said the newspaper. The lender has hired global investment banks as its financial advisers and will receive a recapitalization of as much as US$25 billion from Central Huijin Investment, the South China Morning Post reported last week. (For more biz stories, please visit Industry Updates) |
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