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
