Vinalines selling bank stake

Hanoi: An auction of Vietnamese state shipowner Vinalines' stake in a domestic bank looks set to raise about $15m.

The sale of its 20.1m shares in Vietnam Maritime Bank has been set for 8 December at the Hanoi Stock Exchange. It is part of Hanoi’s bid to slim down Vinalines which ran up massive debts in the past few years. The shipping line has been told to focus just on its core shipping operations.  [26/11/14]

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