CITIC unfazed by collapsed Bear deal
20 March 2008
CITIC Securities said on Wednesday that it is still looking to invest in foreign banks, despite its recently collapsed US$1 billion-each share swap with now-defunct Bear Stearns, Reuters reported. CITIC announced Tuesday that it would abandon its planned cooperation with Bear Stearns after the subprime-battered American firm was taken over on Sunday by JPMorgan Chase. CITIC's deputy manager said the firm's Hong Kong unit would serve as the main platform for expanding overseas, but CITIC did not say whether investments would take the form of share swaps.
Bookmark and Share:
Other Categories
Other news from 20 March 2008
Related Articles
- CITIC unfazed by collapsed Bear deal
- Citic Pacific sees $2.6 bn in capital spending
- Citic-Bear Stearns deal not guaranteed
- CITIC in talks over better price for Bear
- Pudong to raise US$5.6 bn in share sale
To receive the best China business news that the market has to offer,
subscribe to the China Economic Review.
subscribe to the China Economic Review.