CITIC DENIED ACQUISITION OF BEAR STEARNS
AsiaInfo Services, October, 2007
AsiaInfo Services 10-22-2007 CITIC Denied Acquisition of Bear Stearns BEIJING, Oct 22, 2007 (SinoCast via COMTEX) -- China's multinational conglomerate CITIC Group denied the rumor of bidding for a stake in Bear Stearns Co., Inc. (NYSE: BSC), a global investment banking, securities trading and brokerage firm. The company did not make any related acquisition plan and decided not to consider the matter in the coming three months at least, said a senior executive of CITIC Group. Previously, the company is rumored to successfully win the bid of a 20% stake in Bear Stearns, amongst all participants, such as China Construction Bank Corporation (SEHK: 0939), Bank of America Corp., Wachovia Bank, N.A.
(NYSE: WB), Hong Kong and Shanghai Banking Corporation (HSBC), and...
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