China's Huishang Bank to take over four branches of Baoshang Bank -Caixin

Huishang Bank

08/01/2020 07:24

BEIJING, Jan 8 (Reuters) - China's Huishang Bank  3698.HK 
will take over four branches of troubled Baoshang Bank, media
group Caixin said on Wednesday.
    In a statement earlier in the day, Huishang said it would
invest up to 3.6 billion yuan ($518.56 million) to hold a stake
of no more than 15% in a new provincial commercial bank, but
gave no details.  urn:newsml:reuters.com:*:nFWN29C0UX
($1=6.9423 Chinese yuan renminbi)

 (Reporting by Yawen Chen, Cheng Leng, Ryan Woo and Beijing
Monitoring Desk; Editing by Clarence Fernandez)
 ((cheng.leng@thomsonreuters.com; +8610-5669-2129;))