IBM to Join Citigroup Bid for Chinese Bank Stake

Published on:
8 December 2006 at 06:33 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004485-ibm-to-join-citigroup-bid-for-chinese-ban/

by Mike Bevel, CollectionIndustry.com

IBM will join a Citigroup-led consortium bidding $3 billion for control of China’s Guangdong Development Bank, according to Reuters.

IBM would control a 5% stake in the Chinese bank if the bid was successful.

The Citigroup consortium has been in a battle with France?s Societe Generale for the better part of a year to see who will get to control the Chinese bank. The bids have been reported to be around $3 billion, which would give the winner an 85% stake.

IBM to Join Citigroup Bid for Chinese Bank Stake

Unknown Author

Featured Resources

Webinars

About