Cit­i­group may keep Chi­nese JV stake

New Straits Times - - BUSINESS / WORLD -

BEI­JING: Cit­i­group Inc sig­nalled a pref­er­ence to main­tain its mi­nor­ity stake in its China joint ven­ture (JV), tak­ing a dif­fer­ent tack than some other global banks that are seiz­ing on the gov­ern­ment’s plans to al­low ma­jor­ity con­trol. “We have a great joint ven­ture,” said Asia- Pa­cific chief ex­ec­u­tive of­fi­cer Fran­cisco Aris­tegui­eta yes­ter­day. “It’s the most prof­itable joint ven­ture out there in China and at this point we’re not re­con­sid­er­ing our po­si­tion,” said the multi­na­tional in­vest­ment bank.

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