 Bank of America currently has offices in Hong Kong, Shanghai, and Guangzhou and sought to expand its Chinese business as a result of this deal.On or about 5 June 2008, Bank of America purchased 6 billion H-shares for approximately HK$2.42 per share using call options under a formula in the initial acquisition agreement.Bank of America now holds about 25.1 billion H-shares, representing about 10.75% of CCB's issued shares.