Backlash puts China finance deals on hold – Richard McGregor

From the Financial Times (link)

A backlash against foreign investment in China’s finance sector is holding up approval for a number of high-profile deals pairing overseas companies with troubled local banks and brokerages.

Final approval for the purchase of a 20 per cent stake in Beijing Securities by UBS, the Swiss bank, has been delayed for several months, despite being seen as a model for foreign investment in the sector.

UBS and the Beijing government, which owns the brokerage, remain at odds over the detailed provisions the Swiss firm is demanding to ensure that it gains control of the firm, according to people familiar with the transaction.

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