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Business Briefing / Banking

Goldman may sell part of stake

March 24, 2009|TIMES WIRE REPORTS

Goldman Sachs Group Inc. will win investor support for selling a portion of its 4.9% stake in the Industrial & Commercial Bank of China to raise more than $1 billion, two shareholders said.

The New York company is mulling over a possible sale of the shares, valued at about $7.5 billion, the Wall Street Journal reported.

Goldman Sachs declined to comment.

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