Business Week is reporting that Citibank “is considering increasing its stake in Shanghai Pudong Development Bank from the current 4.62 percent”.
The report lists a few other deals:
Last week, Dutch lender ING Groep NV said it will buy a 19.9 percent stake in Bank of Beijing.
Last year, British-bank HSBC Holdings PLC bought a near 20 percent stake in Shanghai-based Bank of Communications, China’s fifth-largest bank. It held shares in the smaller Bank of Shanghai before that acquisition.
LINK:
Business Week: Citigroup may raise stake in Shanghai bank