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China Southern Power Grid stake sale to bail out Guangdong Devt Bank - report.
(From AFX Europe (Focus))
SHANGHAI (XFN-ASIA) - The provincial government of Guangdong is considering selling a stake in China Southern Power Grid valued at 30 bln yuan, with the proceeds to be used to meet capital shortfalls in the restructuring of Guangdong Development Bank, China Business News reported.
"The buyer could include state companies directly controlled by the State Assets Supervision and Administration Commission (SASAC) or state financial companies," the newspaper quoted a source close to the restructuring as saying.
A spokesman with China Southern Power Grid had no comment, …
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