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BIZCHINA> Top Biz News
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CDB, Citibank 'in talks to buy Gome stake'
By Li Weitao (chinadaily.com.cn)
Updated: 2009-02-27 20:32 China Development Bank (CDB) and Citibank are in talks with Gome Electrical Appliances Holdings Ltd to buy stakes in China's second-biggest electronics retailer, according to a report on China's major Internet portal Sohu.com on Friday.
Hong Kong-listed Gome has been considering selling as much as a 20 percent stake in the firm, which could be worth around HK$2.8 billion based on its latest stock price, to private equity funds since its founder Huang Guangyu was detained for alleged share manipulation late last year. Goldman Sachs Group Inc ended talks advising Gome on the stake sale following a disagreement over terms, a Bloomberg report said on Thursday, citing unidentified sources. (For more biz stories, please visit Industries)
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