From The Times Online (link):
A CONSORTIUM led by Goldman Sachs has taken a big step into China by buying a 9% stake in Industrial and Commercial Bank of China (ICBC), the country’s largest lender.
ICBC announced the sale yesterday, saying the Goldman team, which includes American Express and Allianz, had paid $3.8 billion for the holding.
The deal represents the largest single investment in a Chinese company by a foreign investor to date, ICBC said.
