China's BoCom says no exposure to Dubai World

HONG KONG Nov 27 (Reuters) - China's Bank of Communications (601328.SS)(3328.HK), the nation's No. 5 lender, said on Friday it has no exposure to Dubai World.

Dubai, whose extravagant building projects have been largely put on hold since the global financial crisis, has said it would ask creditors at its flagship firms Dubai World and property developer Nakheel to delay repayment on billions of dollars of debt. [ID:nGEE5AP167]

"Today we have a lot of calls asking us whether Bank of Communications Co Ltd has any exposure to Dubai World," BoCom said in a note to analysts.

"We hereby confirm that BoCom does NOT have any exposure to Dubai World nor do we have any business relationship with the company whatsoever."

(Reporting by Doug Young; Editing by Ken Wills)

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