CICHY China Construction Bank Corp (PK)

-- BlackRock Inc. and Temasek Holdings are in talks to start an asset management business in China along with China Construction Bank Corp., one of the country's biggest banks, Bloomberg reports, citing an unnamed source.

-- Both BlackRock and Temasek entered a non-binding agreement with China Construction Bank Corp. to take a majority stake in the new unit, reports Bloomberg

--The arrangement would see the firms develop and distribute products for local Chinese investors, Bloomberg reports.

Full story: https://bloom.bg/2tDxih7

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(END) Dow Jones Newswires

December 19, 2019 20:55 ET (01:55 GMT)

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