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Objections from Beijing force Bank of America to shelve plan to sell China Construction Bank stake

• J. M.
  Dec 19 2008, 07:15 AM
  Bank of Americahas shelved a $3bn sale of China Construction Bank stock following objections from Beijing, igniting fears that some cash-strapped overseas investors could struggle to offload their lucrative holdings in the country's banks.
  
  "Bank of America cancelling those trades has made the other foreigners realise they don't exit at their discretion; they exit at the discretion of the Chinese government," said one Asian dealmaker who asked not to be identified.
  
  http://www.ft.com/cms/s/0/8992da5c-cd6e-11dd-9905-000077b076...
  
  

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