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AmEx, Allianz Mull Sale of ICBC Stake

American Express and Allianz SE are considering selling down their stakes in Industrial & Commercial Bank of China, a report says.

American Express

(AXP)

and

Allianz SE

(AZM)

and are considering selling down their stakes in

Industrial & Commercial Bank of China

, a report says.

The companies have asked Goldman Sachs to handle a potential sale, a person familiar with the situation told

Dow Jones Newswires

.

The lockup on half of American Express and Allianz's combined 2.3% holding will expire Tuesday. The shares are worth more than $2 billion at recent prices, the report said.

"There is no definite plan yet as to the timing and the details of the placements," the person said, according to Dow Jones.

The other half of Allianz's and American Express's holdings in ICBC expire on Oct. 20.

ICBC is the world's biggest lender by market value.