Fresh from its biggest overseas deal ever, China Construction Bank is looking to Europe for acquisition opportunities but first needs to see European regulators open their doors to it.
China’s second-biggest bank by assets last week agreed to buy 72 per cent of midsized Brazilian lender BicBanco for $725m. It was CCB’s first overseas acquisition, having previously limited its international push to branch openings and minority investments.
Speaking before the BicBanco deal was announced, Wang Hongzhang, CCB chairman, told the Financial Times that his bank was keen to expand in Europe.
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