The following press releases and media reports about Chinese companies were carried on May 29. To view a full article or story, click on the link next to the headline.
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China’s Top Online Travel Agent Ctrip (Nasdaq: CTRP) Taken Offline By Hackers (English article)
BOC Hong Kong (HKEx: 2388) Said to Narrow Bids for $6.8 Bln Nanyang Bank (English article)
Alibaba’s (NYSE: BABA) Online Bank Secures Launch Approval (English article)
HK Securities Regulator Confirms Investigation of Hanergy (HKEx: 566) (Chinese article)
Bottom line: Bank of China’s Hong Kong arm is likely to find limited interest in a sale of its Nanyang Commercial Bank unit, as a slowing Chinese economy cools offshore interest in buying Hong Kong banks.
Bank of China looks to sell Nanyang Bank
A new report about a potential major bank sale in Hong Kong made me realize that a widely expected rush to buy locally based lenders in the former British colony never materialized. This latest report that the Hong Kong unit of Bank of China (HKEx: 3988; Shanghai: 601398) is shopping its locally-based Nanyang Commercial Bank might rekindle speculation that a flurry of new sales is coming. But the potential buyers mentioned in the report make such a gold rush look unlikely, indicating local Hong Kong banks may be losing their appeal as acquisition targets for Chinese and other global lenders. Read Full Post…
The following press releases and media reports about Chinese companies were carried on January 30. To view a full article or story, click on the link next to the headline.
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Alibaba Group (NYSE: BABA) Announces December Quarter 2014 Results (Businesswire)
China To Demand Secret Source Codes From Computer Firms: NYT (English article)
