NewsJune 18, 2005
Bank of America buys into Chinese bank
CHARLOTTE, N.C. -- Bank of America Corp.'s $3 billion purchase of a stake in the China Construction Bank drew a mixed reaction Friday as a bold step into a growing market but one that could also be a risky venture that could lead to big losses. Bank of America will spend $3 billion for a 9 percent stake of the bank...
The Associated Press
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CHARLOTTE, N.C. -- Bank of America Corp.'s $3 billion purchase of a stake in the China Construction Bank drew a mixed reaction Friday as a bold step into a growing market but one that could also be a risky venture that could lead to big losses. Bank of America will spend $3 billion for a 9 percent stake of the bank.
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