Banking News
- Minsheng to acquire small HK bank
Date: 12-Jan-2007 Sources: (Shenzhen Daily)
CHINA Minsheng Banking Corp. will be acquiring a small, Hong Kong-incorporated money lender from the Industrial and Commercial Bank of China as a way to enter the banking industry in Hong Kong.
Minsheng has been negotiating for the past few months with several small local banks and aims to complete the deal before its IPO in Hong Kong, scheduled for the third quarter.
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