ABN AMRO signs deal with ChinaÆs Haitong Securities
But the chances of a takeover by the Dutch bank look slim.
In short statement issued Monday ABN AMRO announced that it had signed a memorandum of understanding with ChinaÆs fourth-largest broker by income in 2004, Shanghai-based Haitong Securities, to explore partnerships in securitisation, international capital raising, advisory and brokerage.
The agreement reflects the eagerness of many foreign financial services providers to penetrate China.
The attractions of Haitong are obvious. ItÆs got a relatively good reputation it is undergoing restructuring and it is established in the wealthiest part of China û...
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