Bank of China to invest 6 bln yuan in Beijing-Shanghai Link Co.
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China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Bank of China to invest 6 bln yuan in Beijing-Shanghai Link Co.—China Securities Journal
Bank of China, China's third-largest lender, announced today that it will pay up to 6 billion yuan (US$882 million) for a 4.537 percent stake in a state-owned railway construction company set to build a high-speed rail linking Beijing and Shanghai.
The bank is buying the stake from the company's biggest shareholder, Zhongguo Tietou. The deal is still subject to regulator's approval.
The high-speed rail project, at a cost of 221 billion yuan (US$32.5 billion), started in 2008 and will be completed in 2013.
AUO to buy Toshiba LCD plant in Singapore—National Business Daily
Taiwanese LCD maker AU Optronics Corp (AUO) signed a memorandum of understanding on Wednesday with Toshiba Mobile Display to acquire its LCD manufacturing plant in Singapore. This is the latest move in a string of countermeasures unveiled by the flat-panel maker to compete with Chimei Innolux Corp.
The plant in Singapore was established in November 2002 and produces LCD screens based on low-temperature polysilicon technology.
With the acquisition, AUO will be able to gain access to high-end notebook and smart phone markets.
CEO Chen Laizhu said the Singapore-based plant will expand AUO's manufacturing bases beyond Taiwan and Mainland China, enabling AUO to tap markets in south Asia and the Middle East.
