BoA Sells $7.3 Billion CCB Stake
HONG KONG (Reuters) - Bank of America (BAC.N) sold about $7.3 billion worth of shares in China Construction Bank (601939.SS) to a group of investors, a source said on Tuesday, as the struggling U.S. bank seeks to raise cash. A unit of China Life Insurance Co Ltd (2628.HK) (601628.SS), Singapore state investment agency Temasek Holdings , and China's Hopu Investment Management Co, were part of the consortium, the source said. The source was directly involved in the deal but not authorised to speak on the record about it.
12 May 2009•2 mins read
