Friday, June 03, 2005
Although as "strategic investor," Citibank would have been entitled to send one and possibly two VPs to CCB, would they have had any power as outsiders and non-party members. Despite Guo's promise, it remains to be seen how much power outsiders will exercise in CCB and other large state banks. The market has also reassessed the risk of investing in CCB. Note that the current strategic partner with CCB, Bank American, will only sink 1.2 billion for a 5% share, half of what Citibank had supposedly promised. In truth, I share Citibank's circumspection because it remains difficult for the Chinese government to refrain from interfering in a large bank such as CCB. Citibank and other large foreign banks hoping to get into the Chinese market would do much better to invest in mid-size joint-stock banks and good city commercial banks since most of their business is on the prosperous coastal region. Frankly, much of the inland banking market is just not worth very much in the foreseeable future.
尽管进行了数月的谈判，花旗集团仍未能与建行达成交易。而且据悉建行已与花旗的竞争对手美国银行(Bank of America)进入了后期谈判。美国银行提出将出资约12亿美元，持有建行5%的股权。