The mainland lender is in active discussions with financial advisers and Chinese policymakers about the merits of joining the auction for assets owned by the stricken US insurance giant.
BoC's surprise interest underscores renewed willingness in Beijing to consider investing in selective overseas financial assets. This is despite a recent string of disastrous investments in foreign banks and insurers.
Dealmakers said that CIC, China's sovereign wealth fund, is keen to back a single mainland bidder in the auction, and that BoC had overtaken China Life – the world's largest insurer – as the most likely candidate.
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