Three major Chinese banks revealed have unofficially looked into acquiring a stake in UK-based Standard Chartered Bank, approaching Singapore's state investment agency for discussions about acquiring its 17 percent stake in the bank, according to a report.
Industrial and Commercial Bank of China, Bank of China and China Construction Bank held talks with officials from Temasek personnel about a possible deal, according to the Financial Times, which cited personnel familiar with the matter.
Temasek rejected the approach, the report stated.
Senior officials at ICBC denied the report, Xinhua News agency reported on Monday.
StanChart has greatly expanded its operations in Africa, Middle East and Asia making it very attractive to Chinese banks.
StanChart holds a 19.9 percent stake in China's Bohai Bank and has built one of the largest branch networks among foreign lenders in the region.