Global team to buy 10% of Bank of China

Article Abstract:

The Royal Bank of Scotland Group PLC of the United Kingdom with a unit of Merrill Lynch & Co. of the United States and Li Ka-shing a Hong Kong billionaire are to invest $3.1 billion to purchase ten percent of the Bank of China. The Royal Bank of Scotland Group PLC is to invest $1.6 billion. The Bank of China is planning an initial public offering valued at $4 billion.

United States, Li Ka-shing, Merrill Lynch & Company Inc.

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Big foreign investors are courting Bank of China

Article Abstract:

Bank of China is negotiating with four international banking interests for substantial investments as per the regulation of the World Trade Organization. The four banks are the Royal Bank of Scotland PLC, Temasek Holdings (Pte.) Ltd., Asian Development Bank and UBS AG. Foreign investment in the Chinese banking sector is a trend with a goal of improving regulation.

Industry Overview, World Trade Organization

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U.K. lender plans to purchase 10% of Bank of China

Article Abstract:

Royal Bank of Scotland Group PLC is close to acquiring a stake in the Bank of China, purchasing a 10 percent stake for approximately $2.5 billion. China is planning a full market opening of the banking industry by the end of 2006.

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