Bank of America is considering selling half its holding in China Construction Bank (CCB) (601939, 0939.HK) in order to meet its first-tier capital needs, reports caixing.com, citing an insider.

Bank of America now holds 25.5 billion shares of CCB, of which 23.6 billion are worth a total of US$ 17 billion and have been marketable since August 2

Jerry Dubrowski, spokesman of Bank of America, did not confirm the issue and said that the bank will remain a major shareholders of CCB.

Source:capitalvue