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Citic's buy-back bid underlines diminished industry profits

Elva Muk
Citic Securities has moved to buy back a 10% stake in China AMC for exactly the price it sold it for in 2011, pointing to the challenges the nation's asset management industry faces.
Citic's buy-back bid underlines diminished industry profits

Citic Securities is expected to buy back a 10% stake in China’s largest asset manager for exactly the same price it sold it for in 2011 – an indication of diminished profits in an overcrowded industry, says consultancy Z-Ben Advisors.

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