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Spain's BBVA buys further 5 pct of China's Citic

Source: Reuters - Thu 3rd Dec 2009

Spain's second largest bank BBVA said on Thursday it has raised its stake in China Citic Bank to about 15 percent from a previous 10 percent for about 0.56 euros per share or 1 billion euros total.

The purchase of the extra 4.93 percent of Citic was expected as BBVA had an option to acquire the shares which expires today.

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