XN000022-1990-04-12 — Page 13

THURSDAY, APRIL 12, 1990

12

TWO BANKING LICENCES GRANTED

* *

NISHI-NIPPON BANK, LIMITED AND

ΤΟ CONDUCT BANKING LICENCES GRANTED GOVERNMENT SPOKESMAN SAID TODAY (THURSDAY).

RABOBANK NEDERLAND HAVE BEEN

BUSINESS IN HONG

A KONG,

IN JAPAN,

IS THE

NISHI-NIPPON BANK, LIMITED IS THE 40TH LARGEST BANK

BY CAPITAL. RABOBANK NEDERLAND AND THE 240TH IN THE WORLD LARGEST BANK IN THE NETHERLANDS AND THE 30TH IN THE WORLD BY CAPITAL.

THEY HAVE OPERATED A REPRESENTATIVE OFFICE IN HONG 1985 AND 1986 RESPECTIVELY.

KONG SINCE

IN

THE SPOKESMAN SAID THE CONTINUING INTEREST OF FOREIGN BANKS

ROLE AS A MAJOR ENTERING THE LOCAL MARKET INTERNATIONAL FINANCIAL CENTRE.

REFLECTED

HONG KONG'S

OF HONG KONG'S BILATERAL

"GIVEN THE IMPORTANCE

TRADE

WITH HAVE JAPAN AND THE NETHERLANDS, IT IS DESIRABLE THAT THESE COUNTRIES

OF HONG KONG," HE APPROPRIATE REPRESENTATION IN THE BANKING SECTOR

SAID.

THE OF

LICENCES BRINGS THE

OF TOTAL NUMBER 135 ARE INCORPORATED OUTSIDE HONG

THE GRANTING LICENSED BANKS TO 166, OF WHICH KONG.

THE LICENCES ARE THE FIRST TWO GRANTED THIS YEAR.

SALE OF EXCHANGE FUND'S REMAINING HK TELECOM SHARES

FOR MONETARY

MR AFFAIRS,

―

THE SECRETARY

DAVID NENDICK,

SALE OF THE ANNOUNCED THAT THE AGREEMENT REACHED ON APRIL 3 FOR THE

SHAREHOLDING FUND'S REMAINING

IN HONG KONG WHOLE OF THE EXCHANGE

AMOUNTING TO 377,544,752 TELECOMMUNICATIONS LIMITED ("HK TELECOM"}

OF THE ISSUED SHARE SHARES REPRESENTING APPROXIMATELY 3.4 PER CENT

A LEADING CAPITAL OF HK TELECOM TO SMITH NEW COURT SECURITIES PLC,

FOR A TOTAL HOUSE,

CONSIDERATION OF APPROXIMATELY UK SECURITIES $1.85 BILLION, WAS COMPLETED TODAY (THURSDAY).

—

AFTER THIS TRANSACTION, THE EXCHANGE FUND WILL NO ANY EQUITY INTERESTS IN HK TELECOM.

LONGER HAVE

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