CITIC GROUP CONFIRMS BEAR STEARNS BID
AsiaInfo Services, October, 2007
AsiaInfo Services 10-18-2007 CITIC Group Confirms Bear Stearns Bid BEIJING, Oct 18, 2007 (SinoCast via COMTEX) -- China's multinational conglomerate CITIC Group joined the bidding for a stake in Bear Stearns Co., Inc. (NYSE: BSC), a global investment banking, securities trading and brokerage firm, said Chang Zhenming, vice chairman of CITIC Group. However, the vice chairman said company did not make any substantial progress in course of the deal. Previously, China Construction Bank Corporation (SEHK: 0939), Bank of America Corp., Wachovia Bank, N.A.
(NYSE: WB), Hong Kong and Shanghai Banking Corporation (HSBC), and Warren Buffett, the world's second-richest person, all intended to took part in the bid, besides CITIC Group. Among all the participants, CITIC...
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