Money

CIC denies reports of Spanish bank investment

(Agencies)
Updated: 2011-04-14 13:38

BEIJING - China Investment Corp, the country's sovereign wealth fund, on Thursday denied reports that it was studying a $9 billion investment in Spanish banks.

"The reports are groundless and are not in line with the truth," a CIC official, speaking on the condition of anonymity, told Reuters.

A Spanish government source said on Wednesday that Chinese investors including the sovereign wealth fund may inject $13 billion into Spanish banks after Spain's premier met top Chinese officials in Beijing.