BEIJING, March 5 (Reuters) - The parent of steel-to-property conglomerate CITIC Pacific Ltd has no plan to sell down its stake in the listed arm after increasing it under a recent rescue plan, the parent's chairman Kong Dan told reporters on Friday.
CITIC Group, China's top financial conglomerate, boosted its stake in CITIC Pacific as part of a rescue package after the firm racked up losses from unauthorised foreign exchange trading.
($1=6.83 Yuan)
(Reporting by Li Hongwei and Edmund Klamann)
((edmund.klamann@reuters.com; +86 21 6104 1799; Reuters Messaging: edmund.klamann.reuters.com@reuters.net)) Keywords: CITICPACIFIC/STAKE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
CITIC Group, China's top financial conglomerate, boosted its stake in CITIC Pacific as part of a rescue package after the firm racked up losses from unauthorised foreign exchange trading.
($1=6.83 Yuan)
(Reporting by Li Hongwei and Edmund Klamann)
((edmund.klamann@reuters.com; +86 21 6104 1799; Reuters Messaging: edmund.klamann.reuters.com@reuters.net)) Keywords: CITICPACIFIC/STAKE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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