Last October, Chinese media reported that pharmaceutical company America Citi Pharmacy Co. Ltd.’s was using their suggestive name in a fraudulent ad campaign—the Chinese and English names used by the company were very...
From AFP: Citibank N.A. of the US has agreed to acquire Taiwan’s Bank of Overseas Chinese (BOOC) for 14.1 billion Taiwan dollars (426 million US dollars), BOOC said Monday. Citibank will acquire all 1.194 billion outstanding shares in BOOC at 11.8 dollars per share through its subsidiary Citibank Overseas Investment Corp, the Taiwanese bank said […]
From Financial Times: A Citigroup-led consortium was on Thursday confirmed as the preferred bidder for Guangdong Development Bank, a struggling lender in southern China which has been subject to a prolonged bidding war. Citigroup and its partners will pay Rmb24.2bn ($3.1bn) for an 85.6 per cent stake in GDB, which operates 500 branches across China. […]
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 […]
From Bloomberg News (link) Citigroup Inc, the world’s largest financial institution, said its bank cardholders will have immediate access to more than 8,300 cash machines in China as an agreement to link its bank card system with China UnionPay Co takes effect. More than 550 million cardholders of China UnionPay would in turn be able […]
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