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Bank of China withdraws plan for stake in Rothschild.

Global Banking News-2 April 2009-Bank of China withdraws plan for stake in Rothschild(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 02 April 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Bank of China (3988.HK) said on Thursday that it had dropped an idea for a stake in France-based La Compagnie Financiere Edmond de Rothschild.

The Chinese bank said that it has dropped a plan for a CNY2.3bn investment for a 20 percent stake in the French bank after a regulatory deadline passed without a deal.

Bank of China said that it would not extend the deadline and that the investment had lapsed.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications Ltd - http://www.m2.com))

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Publication:Global Banking News (GBN)
Date:Apr 2, 2009
Words:133
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