Stanchart on the acquisition trail in China

London- and Hong Kong-listed Standard Chartered Plc has been in talks with several Chinese banks about taking a possible stake in one to accelerate expansion in China. Bloomberg reported. SC Chief Executive Peter Wong declined to reveal a timeframe, but said building business organically would take too long. Wong also declined to say whether Standard Chartered was in talks to buy a stake in China Everbright Bank, China's eighth largest bank. HSBC Holdings Plc, Citigroup Inc. and others have been taking stakes in different properties, HSBC most recently with its 19.9% stake in Bank of Communications, China's fifth largest bank.