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CITIC may not invest in Bear Stearns
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Posted on
Mar 17 2008 4:58 AM
by
adeal
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CITIC Securities says it might not proceed with a deal to invest about $US1 billion ($A1.08 billion) in Bear Stearns because of the US investment bank's financial crisis. China's largest listed brokerage said it would "conduct an overall evaluation" of the deal after Bear, saying its liquidity position had worsened, obtained an emergency funding arrangement on Friday with the US Federal Reserve and JPMorgan Chase.
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