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Bank Of America Sells More Than Ten Percent Of Stake In China Construction Bank

Bank of America will sell $2.83 billion worth of its shares in China Construction Bank in a further attempt to balance 2008 losses, according to Reuters. Bank of America sold more than 5.62 billion shares, or nearly 13 percent of

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Bank of America will sell $2.83 billion worth of its shares in China Construction Bank in a further attempt to balance 2008 losses, according to Reuters.

Bank of America sold more than 5.62 billion shares, or nearly 13 percent of its holding in Construction Bank, at HK$3.92 apiece, according to a term sheet obtained by Reuters and a person familiar with the matter, in a deal that had been widely anticipated by the market.

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