01-27-2009, 09:27 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Banks May Cut Chinese Financial Stakes to Bolster Cash, FT Says </b>
By Steven McPherson
Jan. 26 (Bloomberg) -- <b>Foreign financial companies are likely to continue selling holdings of Chinese banks to increase cash</b>, the Financial Times said. A new round of sales may come in April when agreements to hold shares of Industrial & Commercial Bank of China Ltd. expire, the newspaper said. <b>Goldman Sachs Group Inc.'s 5 percent holding could earn $7 billion</b>, according to the report. UBS AG, Royal Bank of Scotland Group Plc and Bank of America Corp. have sold shares in Chinese banks, the report said. Temasek Holdings Pte. and HSBC Holdings Plc are among institutions with large stakes in Chinese banks, it said
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By Steven McPherson
Jan. 26 (Bloomberg) -- <b>Foreign financial companies are likely to continue selling holdings of Chinese banks to increase cash</b>, the Financial Times said. A new round of sales may come in April when agreements to hold shares of Industrial & Commercial Bank of China Ltd. expire, the newspaper said. <b>Goldman Sachs Group Inc.'s 5 percent holding could earn $7 billion</b>, according to the report. UBS AG, Royal Bank of Scotland Group Plc and Bank of America Corp. have sold shares in Chinese banks, the report said. Temasek Holdings Pte. and HSBC Holdings Plc are among institutions with large stakes in Chinese banks, it said
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