BoA cuts CCB stake

Bank of America cuts CCB stake to 1%

The US bank says it has sold 10.4 billion shares through private transactions. Based on the latest market price, the stake is valued at about $7.4 billion.

<div style="text-align: left;"> BoA continues to divest assets to shore up its capital ratios </div>

Anette Jönsson

November 15, 2011

Bank of America last night announced that it has sold the majority of its remaining H-shares in China Construction Bank through privately negotiated transactions, reducing its stake to approximately 1%, the US bank said in a press release.

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