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The Goldman Sachs Group, Inc. Selling Up To $1.54 Billion In Industrial and Commercial Bank of China Stake-Reuters


Wednesday, 9 Nov 2011 07:46am EST 

Reuters reported that The Goldman Sachs Group, Inc. is selling an up to $1.54 billion stake in China's Industrial and Commercial Bank of China (ICBC), as Goldman seeks to trim exposure in the investment, held since 2006. Steep losses in investment securities caused Goldman to post its second quarterly drop as a public company less than a month ago, booking a $1.05 billion paper loss on its ICBC stake alone.