China’s banks seek cautious steps onto world stage
Despite some modest initial deals, the real prizes in Hong Kong are yet to be won. The problem is that with so few available targets being chased by perhaps as many as 10 of China’s largest banks, the process risks descending into an unseemly scramble for a slice of Hong Kong’s lucrative yet elusive banking pie.
“There are really only about five targets left,” says a Hong Kong-based investment banker.
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