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ICBC extends business to London

Published Thu, Jan 30, 2014 · 10:00 PM
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London

THE Industrial and Commercial Bank of China (ICBC) agreed on Wednesday to buy a controlling interest in Standard Bank's global markets business in London for US$765 million.

The deal will make the bank, which is China's largest, the first large Chinese lender to have a substantial trading operation in London, and it could be a precursor to investment in Britain by other Chinese financial companies.

The British government has been trying to increase investment from China. Last year, it sa…

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