Bank of America (BAC $8.03 +0.27) agrees to sell 13.1 billion shares
of China Construction Bank; sale expected to generate $8.3 billion in cash The
sale is expected to generate approx. $8.3 billion in cash proceeds and an
after-tax gain on sale of approx. $3.3 billion.
The sale should improve Tier 1 Common Capital Under Basel I by $3.5 billion. Co
retains a 5% stake in CCB.






