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ICBC may expand share in Credit Suisse JV.

Global Banking News-19 October 2009-ICBC may expand share in Credit Suisse JV(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 19 October 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

China-based The Industrial and Commercial Bank of China (1398.HK) (ICBC) may expand it share in its joint venture with Credit Suisse (NYSE: CS), ICBC Credit Suisse.

China Ocean Shipping Company announced plans earlier this month to auction off its 20% stake in ICBC Credit Suisse.

ICBC is now expected to acquire that stake in the fund management joint venture through an auction.

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

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

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Publication:Global Banking News (GBN)
Date:Oct 19, 2009
Words:120
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