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China Life seeking strategic investors
By STAFF EDITOR
Published: February 06, 2006 11:00 AM
A Caijing Magazine report says that China Life is seeking strategic investors with 10% of its stock. Of the three investors the company is seeking, two will be foreign and one domestic. Some information says that the talks with investors have already reached the stage of discussions over substantive terms of the business agreement. The Beijing News reports that China Life deputy general manager Wang Yijie was uncertain of this piece of information, while a media spokesperson for the company could not be reached. China Life had previously been reported to be courting strategic investors from a pool of up to 19 entities, including AIG and CitiGroup; chairman Yang Chao denied the presence of CitiGroup among the candidates. China Life has also been working closely recently with both Temasek and Prudential Life.Link: http://economy.thebeijingnews.com/0392/2006/0207/011@159115.htm
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