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Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA) is completing negotiations about the purchase of up to 10 pct of Citic Bank, the South China Morning Post reported.
The Hong Kong newspaper quoted what it described as a person familiar with the situation as saying: 'There are still many points to be discussed, including the final size, price and what influence the Spanish bank will have, with Bilbao also pushing for a board seat.'
Citic Bank, one of the last national commercial lenders here without a foreign partner, is offering a stake of 5-10 pct, attracting the interest of foreign investors such as GE Capital, Grupo Santander and BNP Paribas.
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