By: Alex Mlynek

In the November 5, 2007 edition of Briefcase we reported CITIC Securities, a state-owned enterprise based in Hong Kong, and Bear Stearns had reached an agreement to invest US$1 billion dollars in each other. In light of JPMorgan’s agreement to purchase Bear Stearns, Reuters is reporting the deal between CITIC and the Wall Street bank is off.

Also along the state-owned enterprise theme, the Financial Times has an interesting article on the strong performance of some of China’s state-owned enterprises, and how some of these organizations are moving beyond Beijing’s control.