Foreign banks slaver their chops in Beijing and Shanghai

Business Week is reporting that Citibank "is considering increasing its stake in Shanghai Pudong Development Bank from the current 4.62 percent".

The report lists a few other deals:

Last week, Dutch lender ING Groep NV said it will buy a 19.9 percent stake in Bank of Beijing.

Last year, British-bank HSBC Holdings PLC bought a near 20 percent stake in Shanghai-based Bank of Communications, China's fifth-largest bank. It held shares in the smaller Bank of Shanghai before that acquisition.

Business Week: Citigroup may raise stake in Shanghai bank

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