Agriculture Bank of China rumored not approved to acquire HKCB Bank

Xin Pao cited informed sources as saying that Agriculture Bank of China was not approved temporarily to acquire HKCB Bank (0655) due to non-integrity acquisition scheme.

 The source said although relevant acquisition activity was stopped, all-round contact still continued. Because of many reasons, Agriculture Bank of China was not approved by Peopleˇ¦s Bank of China to acquire HKCB Bank (0655) and not having integrity acquisition scheme was one of the reasons. So the application of Agriculture Bank of China to acquire HKCB Bank (0655) did not step on the level of approval from State Council.

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