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What Economic Recovery? Bank of America selling off half its shares in China Bank, needs the cash now

August 30, 2011 Hutchins AAron

Bank of America announced that it wants to sell half its stake in the lucrative China Construction Bank.  Why?  B of A needs cash now!

Bank of America hopes to get $8.3 billion from the sale.  B of A will still hold 5% of China Construction Bank.

 

 

Written by: Hutchins AAron on August 30, 2011.
b of aChinaeconomyu.s.

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