Proshare Logo
   Market Date: 31-10-2014   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

FNB has a Chinese suitor

Category: World of Business


  Read (845)
FNB has a Chinese suitor

 

Beijing - A major, but unidentified Chinese bank is in talks to buy a stake in South Africa\'s second-largest lender First National Bank, the state-controlled China Daily newspaper reported Friday.

 

If carried out, the transaction will follow in the footsteps of Industrial and Commercial Bank of China, the nation\'s top lender, which recently agreed to buy a 20 percent stake in South Africa\'s Standard Bank.

 

\"The bank, a state-owned one, has been negotiating with FNB for a long time, but it\'s unlikely to take a stake as high as ICBC\'s in Standard Bank,\" an unnamed person told the China Daily.

 

ICBC\'s purchase of the stake in Standard Bank was the largest ever Chinese acquisition in the financial field, at $5.5 billion.

 

Chinese banks and other enterprises have been more aggressive buyers of overseas assets in recent years, helped partly by a strengthening of the Chinese currency since it was de-pegged from the US dollar in mid-2005. - Sapa-AFP/Busrep



Tags: , 



Comment With Your Facebook or Yahoo! ID


Latest news


News on World of Business

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Newsletter
Contact Us
Volunteer Program
Message from CEO
Resources

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
WebTV
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

#1minNews
News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Newsletters
Discussion Forum
Policy

Subscriber Agreement
Privacy Policy
Data Policy
Disclaimer
Copyright Policy
Trademarks
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Training
Legal Support Services
Web/Technology Services
File a Complaint