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China's insurance regulator said Friday it had approved British bank HSBC's sale of its 15.57 percent stake in Ping An, China's second-largest life insurer, to a Thai conglomerate in a $9.4 billion deal.
The green light from the China Insurance Regulatory Commission (CIRC) came just hours before a deadline for approval, and followed media reports that the deal might collapse.
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http://www.globalpost.com/dispatch/news/afp/130201/urgent-china-says-approves-hsbc-sale-ping-stake
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