CHINA: JP Morgan reduces Harbin stake again
The investment bank JP Morgan Chase has made another sale of Harbin Brewery shares, the Hong-Kong-based company at the centre of a potential takeover battle between Anheuser-Busch and SABMiller.
According to Hong Kong stock exchange records, JP Morgan Chase on Monday sold 6m shares in the company at $4.54 each, reducing its stake to 7.4%.
Earlier in the week it became apparent that J.P. Morgan had sold 13.912m shares in the Chinese brewer at between HK$4.66 and HK$4.84 apiece on 7 May.
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