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New chairmanks, sir to sell instake, ovs wer at RBS
royal bank of scotland (rbs) has sold its entire stakes in bank of china, the mainland's third biggest lender, for $2.34bn (Â1.6bn) .
the saled comes a couple of months after the uk governmently took a ne r-60% stakes in rbs amid fears about its solvency .
rbs was hit by exposure to the sub-prime market in the us and was also widely thought to have overpaid for the dutch bank abn amro .
an rbs-led consortium paid 71bn euros ($91bn; Â61bn) for abn amro in october 2007 .
at the meet ing, the bank's then-chairman, sir tom mckillop, said he was profoundly sorry for the bank's financial difficulties .