A deal would also be the first time a foreign-led group had gained control of a state-owned bank.

Over the last two years, three big state-owned banks went public in some of the world's largest initial stock offerings, raising more than $40 billion.

One or more of the four main, state-owned Chinese commercial banks would probably handle the deal, he said.

It owns nearly 80% of all banking sector assets in the country and is a state-owned bank.

Until a year or so ago, state-owned banks essentially distributed money allocated by the Government.

It later became a state-owned bank and in 1994 went bankrupt and closed.

Last year, it paid $4.5 million to a state-owned Vietnamese bank after a trading dispute.

According the Statute, it was a state-owned bank, intended for short-term credit of trade and industry.

It was set up as a state-owned, regional bank.

Italy's other big state-owned banks have also lent money to the bust group.