Citigroup, DBS Advance in China Bank Bid

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00019832-citigroup-dbs-advance-in-china-bank-bid/

By George Chen, Reuters

An investment arm of Citigroup Inc. and Singapore’s DBS are among the remaining would-be buyers of China’s struggling Guangdong Development Bank after surviving the first round of bidding, two banking sources close to the deal said.

The Citigroup unit, Singapore’s largest bank DBS Group Holdings Ltd., and China’s number-two life insurer Ping An Insurance were among those still in the hunt after as 20 firms took part in the first phase over the past week, they told Reuters.

For this complete story, please visit Citigroup, DBS Advance in China Bank Bid.

Citigroup, DBS Advance in China Bank Bid

Unknown Author

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