China Bank Says Citigroup Can Become Top Shareholder

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00023329-china-bank-says-citigroup-can-become-top-/

Pudong Development Bank said on Thursday it would not object if Citigroup Inc. became its single largest shareholder, advancing the U.S. giant’s plan to increase its stake as global rivals accelerate an investment push into China.

The world’s largest financial services provider wants to increase its stake in Pudong Bank to 20 percent, sources familiar with the matter said this week, adding that a deal could be unveiled as quickly as a month or two.

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China Bank Says Citigroup Can Become Top Shareholder

Unknown Author

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