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28 Nov 2006, 4:48 am
On November 26, 2006, Citigroup closed a deal in acquiring 20% of Chinese Guandong Development Bank (GDB) after a yearlong bidding war with France's Société Générale SA and China's Ping'An Insurance, which marked a climax of foreign banks acquiring equity in Chinese banks. [1] Through this acquisition, Citigroup obtains the privilege of installing… [read post]
