BNP seeks local lenders

BNP Paribas said it is "talking with a few" city and regional banks as it seeks to expand in the Chinese market, state media reported, citing Jean-Francois Di Meglio, head of BNP corporate and investment banking for Asia and the Middle East, who declined to identify the banks. By partnering with smaller banks, Di Meglio said BNP would have more management say, whereas taking the maximum allowed 20% stake in a large state-owned bank would be dilutive to their management powers.