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28/08/2011
BEIJING (Reuters)
New York Times reported that Bank of America in connection with "complete plans" to sell more than half of his shares in China Construction Bank, where negotiating with a group of sovereign wealth funds from Asia and the Middle East.
and draws the report information from "officials" Two briefed on the negotiations did not disclose the identities and it reinforced the speculation to sell a large part of the share of Bank of America Bank of China, which is the second in the world in terms of market value.
The New York Times report, "a consortium of sovereign wealth funds in China and the Middle East, and also several companies for direct investment are negotiating with bankers The hatch a deal early this week. "the report said, citing officials," while the Bank of America plans to sell at least half of its share, amounting to ten percent in the Chinese bank, but he was ready to sell much more if he gets the right price. "In last week moved Berkshire Hathaway company investor Warren Buffett to invest five billion dollars in Bank of America the largest U.S. bank by assets, which is an indication of confidence. It is expected to sell Bank of America is part of his share soon with the expiration of the term mandatory to keep the stock this week, to meet the capital requirements in light of falling share price. Among the potential buyers of the shares of Bank of China for the reconstruction of the Kuwait Investment Company, China Life Insurance Fund, Temasek Holdings, owned by the Government of Singapore. In the last week played down the China Construction Bank fears of rising bad debts, said that his relationship with Bank of America is still strong despite talk that the U.S. partner may sell part of its share.
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