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Posted AT 6:53 AM EST on 23/07/08

Carlyle's bid for China company ends

JOE MCDONALD

The Associated Press

BEIJING — U.S. private equity firm Carlyle Group has dropped its bid to buy a stake in a Chinese construction equipment maker, the two companies said Wednesday, after multiyear talks that stirred nationalist opposition. Carlyle's bid for Xugong Group was closely watched amid U.S. government warnings about possible Chinese protectionist sentiment.

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