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AmEx hedges a deal but still keeps ICBC Bank of China stake

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posted on Aug, 8 2011 @ 02:40 AM
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AmEx hedges a deal but still keeps ICBC Bank of China stake


cnbusinessnews.com

WHEN Goldman Sachs executed a US$479 million block share sale in Industrial and Commercial Bank of China Ltd last week to help American Express Inc hedge its position in the Chinese lender, a wall of mystery surrounded the transaction.

Though the deal value wasn’t huge, what sparked interest in it was the involvement of three large global and publicly traded institutions: ICBC, the world’s biggest bank by market value, Goldman, one of the world’s most influential securities firms, and American Express, another large United States bank making huge strides into China.
(visit the link for the full news article)




posted on Aug, 8 2011 @ 02:40 AM
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I see lots of grumbling and predicting and veiled threats regarding China and the US this morning here at ATS.

I thought I'd trot over and see what the Chinese have to say about things,
and ran across this article, where Goldman Sachs has just shored up Amercan Express's standing in the Industrial and Commercial Bank of China.

>........(pause to allow that to sink in)......>>>>

That's right. American Express. Goldman Sachs. and The Industrial and Commercial Bank of China.

All doing quiet little deals together. Mysteriously, it is reported.

Though the deal value wasn’t huge, what sparked interest in it was the involvement of three large global and publicly traded institutions: ICBC, the world’s biggest bank by market value, Goldman, one of the world’s most influential securities firms, and American Express, another large United States bank making huge strides into China.


Hmmm.....so while the MSM is blaring that the Asian world (in fact the entire world) stocks fell already today (it's hours before dawn here), and people are getting rowdy and frothy about China's attitude.....
the bankers are all still having a grand old time.


At the end of the transaction, American Express will continue to own the stake in ICBC, but it is totally immune to the market fluctuations.


D'you get that? Totally immune.
TOTALLY
IMMUNE
thanks to Goldman Sachs.

American Express paid US$200 million to buy 1.28 billion Hong Kong shares of ICBC in 2006 as part of a group of strategic investors before ICBC’s IPO. When the lock-up expired in April 2009, American Express sold half its stake for some US$310 million. The latest transaction would help American Express to reap about five times the return on its initial investment. – Shanghai Dialy


Yup, five times the return. And some here feel that China and the US are enemies? Nu-uh.

cnbusinessnews.com
(visit the link for the full news article)
edit on 8-8-2011 by wildtimes because: (no reason given)



posted on Aug, 8 2011 @ 02:43 AM
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I'm really starting to hate the big corporate-financial world more and more... It's all just a game that's played at our expense..



posted on Aug, 8 2011 @ 02:57 AM
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Precisely. And the "diversions" are getting bigger and bigger....it seems that the more "we" see what's going on, and their quiet little hedges get exposed, "they" have to get more dramatic with the smokescreens.

"Wait. There's someone watching us. Quick, create a diversion!"

(shouldering an M16 and climbing onto a tank): "Okay, where should I roll?"

"I don't know!! -- (throwing hands in air out of frustration) -- Who cares?? Just get going! We gotta get the signatures on this deal! Go kill some hungry civilians! That always gets the world's attention! And shoot that reporter, too! Geez, I'm sick of that guy."

Bang bang! Rat-a-tat!!

"Okay, gentlemen, if you'll just sign here, please." (looks at watch) "Cmon, cmon!!"



posted on Aug, 8 2011 @ 03:35 AM
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reply to post by wildtimes
 



would be funny if it wasn't true



posted on Aug, 8 2011 @ 03:44 AM
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Originally posted by wildtimes


At the end of the transaction, American Express will continue to own the stake in ICBC, but it is totally immune to the market fluctuations.


D'you get that? Totally immune.
TOTALLY
IMMUNE
thanks to Goldman Sachs.

American Express paid US$200 million to buy 1.28 billion Hong Kong shares of ICBC in 2006 as part of a group of strategic investors before ICBC’s IPO. When the lock-up expired in April 2009, American Express sold half its stake for some US$310 million. The latest transaction would help American Express to reap about five times the return on its initial investment. – Shanghai Dialy


Yup, five times the return. And some here feel that China and the US are enemies? Nu-uh.



And you can bet that we, the "small people," will not see any of that profit. Five times the return is to be enjoyed by billionaires only.



posted on Aug, 8 2011 @ 04:06 AM
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Sigh.

What I wonder is, why ARE we doing business with a Communist country that exhibits horrible product quality, horrible work conditions, horrible lots of stuff. I read labels. I NEVER buy things made there. The more I learn about it, the more I feel the world turns on the whim of thieves and crooks who don't discern between their trading partners.

You did what to your people? Oh well, They're your people. Okay, now, you say this toxic toy only costs 4cents to make, and I can sell it for 4 dollars? Sweet!!
Oh, it's okay that the label says Superman but the toy is Spiderman. The kiddies won't care.


edit on 8-8-2011 by wildtimes because: (no reason given)



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