Thursday, 25th October 2007 at 9:53 am
China move into Standard Bank

This week Standard Bank released a cautionary statement to the market indicating that the bank is in talks that could have a material impact on its share price. Speculation was rife on the market with suggests that Stand Bank maybe in the process of lining up a take over of some sort. But a report on Fin24.co.za states that Industrial and Commercial Bank of China is to acquire a stake of about 20% in Standard Bank. An official announcement has not been made yet and one is expected to be made later on today (Thursday).

As the news breaks be sure to check it out on The Rand Today.

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