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ICBC extends business to London
Add BT as a preferred sourcePublished Thu, Jan 30, 2014 · 10:00 PM
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.
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