Bank of America (BofA) is considering the sale of a US$8 billion stake in China Construction Bank (CCB) within days in a move that would relieve pressure on its balance sheet, the Financial Times reported. BofA is free to divest about a third of its 16.7% stake in China Construction Bank on Thursday following the expiration of a lock-in period. The possibility this week of a lucrative share sale comes as BofA is in talks with US government officials over how much new capital it will be required to raise after purchasing investment bank Merrill Lynch. People familiar with the matter said BofA was weighing up the merits of an immediate share sale against holding on to the stake for a few weeks. CCB’s Hong Kong-listed shares have climbed more than 12% in the past week. BofA would gain an extra dividend payment of US$200 million if it held on to the stock until at least June 17.
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