Bank of America is considering the sale of an $8bn stake in a top Chinese bank within days, reports the FT. BofA, which is undergoing a crucial US government “stress test” and received government pledges of $25bn in support in October, can divest about a third of its 16.7% stake in China Construction Bank on Thursday when a lock-in period expires. The possibility comes amid BofA’s talks with US officials over how much new capital it will be required to raise. CCB shares fell nearly 2% in HK on Wednesday to HK$4.69 on the reports, adds Bloomberg.

This entry was posted by Gwen Robinson on Wednesday, May 6th, 2009 at 5:24 and is filed under Capital markets. Edit this entry.