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Citigroup eyes stake in GF Securities

(China Daily)
Updated: 2007-04-10 16:21

Citigroup Inc is in talks with GF Securities Co to buy a stake in the brokerage to expand in China's securities industry, the Economic Observer said, without saying where it got the information.

Other bidders are also interested in a stake in GF Securities, said the report, without giving details on the size or price of the stake to be sold.

Citigroup Chief Executive Officer Charles Prince said last month the biggest US bank is hiring about 1,000 people this year to increase its corporate, consumer and investment banking businesses in China.