Analysts commented favourably on the benefits that could accrue to ICBC from the expansion of its footprint to Africa, a country where China is looking to develop business as it seeks sources of raw materials.
ICBC will pay R36.7 billion $3.1 billion, translating to a price of R136 per share to Standard Bank shareholders for shares representing 11.1% on an undiluted basis the price represents a 30% premium to the 30-day volume weighted average price...
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