RBS follows peers and sells its BOC shares

As expected, the Scottish bank divests its entire stake in Bank of China, raising $2.4 billion of much needed capital.

After a couple of weeks of intense speculation and courting by numerous investment banks, Royal Bank of Scotland finally stepped up to the plate last night and sold all its shares in Bank of China. The HK$18.5 billion $2.4 billion transaction was well received, as evidenced by the fact that it was priced at the top end of the range for a fairly modest û at least in the current volatile markets û 7.6% discount.

RBS, which like...

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