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China buys $3bn Blackstone stake China buys $3bn Blackstone stake
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Old 05-21-2007, 11:21 AM
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Default China buys $3bn Blackstone stake
The Chinese government has agreed to pay $3bn (£1.5bn) for a 10% stake in US private equity company Blackstone.

The move will give Blackstone a head start in Chinese takeover deals and allow China's government to tap into the global private equity boom.

The news, which is likely to create some political opposition in the US, comes just days before Chinese Vice Premier Wu Yi visits America.

China is buying the stake through its newly formed state investment fund.....

http://news.bbc.co.uk/2/hi/business/6675453.stm
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