UBS, Europe's largest bank by assets, said Thursday that it may invest 500 million US dollars in Bank of China.

"UBS is in talks with Bank of China (BOC) with a view to forming a mutually beneficial cooperation partnership," the Zurich- based lender said in a statement.

"It is envisaged that such a partnership would include commercial cooperation in certain areas of investment banking yet to be agreed, and the possibility that UBS could invest approximately USD 500 million to become a strategic investor in BOC," it added.

UBS said the talks continued and further details were confidential.

Source: Xinhua