BoA To Nearly Double Its Stake In CCB

Bank of America plans to purchase another 9 percent stake in the China Construction Bank, with purchases set to finish by the end of the month. BoA acquired a 10.75 percent hold in 2005, and is now exercising an option

By None November 18, 2008 12:00 AM GMT

Bank of America plans to purchase another 9 percent stake in the China Construction Bank, with purchases set to finish by the end of the month.

BoA acquired a 10.75 percent hold in 2005, and is now exercising an option to purchase another stake that will bring its total to 19.1 percent of CCB’s issued shares.

« BNP Paribas Deploys TIBCO’s Tools To Streamline Management Processes