Showing posts with label China Investment Corporation. Show all posts
Showing posts with label China Investment Corporation. Show all posts

Thursday, April 14, 2011

Spain admits mistake on communication on China's debt acquisition

From http://www.ft.com/cms/s/0/63862548-668d-11e0-ac4d-00144feab49a.html (in English)

Spanish government mistakingly announced that it had secured the acquisition of up to €9 billion euros in debt by China Investment Corporation, but almost immediately it had to make an embarrassing correction. The news came after a China Investment Corporation official informed Reuters that the claims by the Spanish government were false. This is a serious blow to the Spanish regional savings banks, that are desperately seeking for new finantial resources to meet a €15 billion debt created by the loans during the recent property bubble period.