New | ICBC to buy remaining 24.5 per cent of Turkey’s Tektstibank

The Industrial and Commercial Bank of China, the world’s largest bank by assets, said on Friday that it received approval by Turkey regulator’s to buy the remaining shares of Tekstilbank, after it paid 669 million Turkish lira (HK$2 billion) for a 75.5 per cent stake last year as it expands overseas.

The bank said in filing with the Shanghai Stock Exchange the preliminary purchase price is set at 2.1 lira per 10 shares and the deal is expected to be done between July 20 and August 14.