In August 2001, Credit Suisse First Boston (CSFB), major international investment banks, was withdrawn from the underwriting foreign team that will handle up to IPO for China Unicom Group Ltd, the second largest telecommunications company in mainland China. Only two months ago, CSFB was appointed to deal with the part of the U.S. that offer. However, after the bank held foreign investments "road show" with high-ranking government officials from Taiwan (including the Minister of Finance), he was officially removed from the underwriter China Unicom. This incident provoked criticism from the United States government, and Taiwan, and widespread activity in the investment banking community, as several other banks dropped plans to hold a road show in Taiwan. "Hide
by Michael Enright, Vincent Mak Source: University of Hong Kong, 20 pages. Publication Date: January 2, 2002. Prod. #: HKU187-PDF-ENG
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