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The Industrial and Commercial Bank of China (ICBC) was listed last month in Hong Kong and Shanghai.
Instead of picking another bank to partner up with, ICBC chose a consortium led by Goldman Sachs, including Allianz Group and American Express Co.
The consortium bought 8.89% of ICBC shares making their investment the largest single foreign investment in China's financial sector.
A senior executive gave three reasons for the decision to work with Goldman Sachs:
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