Business
June 23, 2005
UBS in talks to invest 500 million US dollars in Bank of China
UBS, Europe's largest bank by assets, said Thursday that it may invest 500 million US dollars in Bank of China.
"UBS is in talks with Bank of China (BOC) with a view to forming a mutually beneficial cooperation partnership," the Zurich- based lender said in a statement.
"It is envisaged that such a partnership would include commercial cooperation in certain areas of investment banking yet to be agreed, and the possibility that UBS could invest approximately USD 500 million to become a strategic investor in BOC," it added.
UBS said the talks continued and further details were confidential.
Source: Xinhua
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