SAN Buys 20% Stake in Bank of Beijing Consumer Finance Unit
"MADRID | Wed May 15, 2013 7:34am EDT
MADRID May 15 (Reuters) - Santander has been authorised to buy 20 percent of Bank of Beijing Consumer Finance Company for 306 million yuan ($49.81 million) via a capital increase, becoming the unit's second biggest shareholder, the Spanish bank said on Wednesday."
It's a nice "foot in the door' that should facilitate a furtherr entry into the China banking market. It is certainly good to see that SAN continues to expand globally.