Citigroup’s Team Leads Guangdong Bidding – Sundeep Tucker and Justine Lau

From Financial Times:

A Citigroup-led consortium is expected this week to be officially declared the preferred bidder for Guangdong Development Bank, a struggling lender in southern China and the target of a prolonged bidding war.

People familiar with the situation said that, barring late developments, GDB would make the announcement on Thursday.

This will end the intense battle involving Citigroup and a rival consortium led by Société Génerale, the French bank. Ping An, a local insurance company, had also lobbied to gain control.[Full Text]

-Also read IBM Joins Citigroup-Led Bid For Chinese Bank from The Wall Street Journal

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