One of China’s biggest lenders plans to make the country’s biggest foreign bank purchase to date and has set its sights on potential targets in Europe.
China Construction Bank, the second-ranked Chinese lender by assets after Industrial and Commercial Bank of China, could spend as much as $15bn on a deal, according to Wang Hongzhang, its chairman.
“Some of the banks in Europe have been put up for sale,” Mr Wang told the Financial Times in an interview. “Now we are looking for the right choice.”
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