Bank of China not seen any RBS notice to sell
Royal Bank of Scotland has not expressed any intention to sell the Hong Kong-listed shares of Bank of China as a lock-up period expires this month, the Oriental Morning Post reported on Tuesday.
The newspaper cited Bank of China spokesman Wang Zhaowen and noted that if the bank wished to sell the shares, it had to ensure price stability, Reuters reported.
According to the terms of the contract, BRS must inform Bank of China one month ahead of any planned share sale, but the Chinese lender has not received such notice yet, the Chinese-language newspaper said.
Reuters could not immediately reach Bank of China for comments.
The report came amid talks that RBS, hit by the global financial crisis, was considering reducing its stake in Bank of China to increase liquidity.
In July, the Financial Times reported that RBS had ruled out any sale of its stake in Bank of China, as it remained committed to its relationship with China's second-largest lender.