China Construction Bank has denied entering into negotiations with Bear Stearns to buy a stake in the American investment bank, the Financial Times reported. Sources in New York said the bank was in talks with a 20% holding costing up to US$4 billion under consideration. "China Construction Bank has never had this kind of plan and has not had such discussions with Bear Stearns," the bank said in a statement on Tuesday. "We are unable to make any judgment as to where this rumor has come from." CCB's core business is lending to domestic businesses and individuals, so taking a minority stake in a US investment bank would seem to be quite a departure.