UPDATE 2-Spain's BBVA sells $1.3 bln stake in China's CITIC Bank
* BBVA first invested in CITIC Bank in 2006 * BBVA to make cash loss of up to 120 mln euros from sale * Retains 9.9 pct stake and set to open its own China branch * Attention turns to Caixabank's stake in Bank of East Asia By Denny Thomas and Sarah White HONG KONG/MA
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