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BBVA trims exposure to China Citic Bank with €1.5bn stake sale

Banco Bilbao Vizcaya Argentaria said on Friday that it is selling a 4.9% stake in China Citic Bank to local firm Xinhu Zhongbao, for HK$13.14bn (€1.51bn), as Spain’s second-biggest lender by market value looks to bolster its balance sheet.

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