Friday, February 15, 2008

China's stake turning into a Bear hug

According to FT Alphaville according to Reuters, "Chinese brokerage CITIC Securities is looking to renegotiate the stake purchase it agreed with Bear [Stearns] back in October:"
the Chinese firm wants 9.9 per cent of Bear, rather than the 6 per cent originally agreed.

CITIC Securities is the brokerage arm of China CITIC, which is owned directly by China’s cabinet, the State Council.

See,
The very essence of corporate democracy and

China takes a stake in Australian banks

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