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Guoco says BEA stake remains a strategic investment

Wed Nov 11, 2009 11:39pm EST

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HONG KONG, Nov 12 (Reuters) - Malaysian conglomerate Guoco Group (0053.HK) said on Thursday its stake in Bank of East Asia (0023.HK) remains one of its strategic investments under its principal investment business.

"We have no comment on other rumours," Guoco said in an email reply to Reuters.

Hong Kong media on Thursday reported that Malaysian conglomerate Guoco might be interested in buying BEA, echoing a report in the influential Next Magazine that went on sale on Wednesday. [ID:HKG328800]

Bank of East Asia also declined to comment on the rumour, which sent its stock up as much as 25 percent in two days.

(Reporting by Clare Jim; Editing by Jacqueline Wong)

((alison.leung@thomsonreuters.com; +852 2843 6369; Reuters Messaging: alison.leung.reuters.com@reuters.net))

((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: GUOCO/BEA

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