India likely to block Chinese investment in insurance giant LIC's IPO: Sources

State-owned LIC is considered a strategic asset, commanding more than 60% of India's life insurance market with assets of more than $500 billion. While the government is planning to allow foreign investors to participate in what is likely to be the country's biggest-ever IPO worth a potential $12.2 billion, it is leery of Chinese ownership, the sources said.

from Banking/Finance-Industry-Economic Times https://ift.tt/3u1pwIG