Citic's buy-back bid underlines diminished industry profits
Citic Securities has moved to buy back a 10% stake in China AMC for exactly the price it sold it for in 2011, pointing to the challenges the nation's asset management industry faces.
![Citic's buy-back bid underlines diminished industry profits](https://uat.cdn.i.haymarketmedia.asia/?n=asian-investor%2Fcontent%2F20111109013250_Citic%20Securities.jpg&c=1&h=677&q=100&v=20252816&w=1204)
Citic Securities is expected to buy back a 10% stake in China’s largest asset manager for exactly the same price it sold it for in 2011 – an indication of diminished profits in an overcrowded industry, says consultancy Z-Ben Advisors.
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