Jiang Jianqing, chairman of Industrial & Commercial Bank of China, said he expects shareholders of Standard Bank Group will approve the sale of a 20% stake in the South African bank to ICBC. "The price we paid is based on a very reasonable valuation, and ICBC will bring a lot of synergies to Standard Bank," Jiang said in a recent interview in Beijing. "I'm very confident about the success of this investment because I've received very positive feedback from investors."

Full Story:

Related Summaries