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 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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