BEIJING, Nov. 7 (Xinhua) -- China International Capital Corp (CICC) is to acquire a rival brokerage as the Chinese investment bank seeks to gain a foothold in the retail brokerage business.
CICC will acquire the brokerage from Central Hujin Investment Ltd. for 16.7 billion yuan, the company said on Friday.
Unlisted China Investment Securities, which is 100 percent owned by Centreal Huijin, has nearly 200 retail outlets across the country, according to the companies' websites.
(Edited by Yang Yifan, yangyifan@xinhua.org)
A single purchase
