Banking News
- Fubon has no plan for Xiamen deal
Date: 20-Jul-2007 Sources: (Shenzhen Daily)
FUBON Financial, Taiwan's No.5 financial holding firm, said Thursday it had no plans to buy a stake in Xiamen Commercial Bank any time soon.
The statement came after the Commercial Times said Fubon was set to sign a contract with the Xiamen bank Friday to buy a 20 percent stake for 600 million yuan (US$79 million), or 2.2 yuan per share. 'There is definitely no such thing,'Fubon Financial president Victor Kung said in a statement.
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