BANK OF CHINA TAKES STAKE IN BAII HOLDINGS Bank of China has taken a stake in Luxembourg-based finance company BAII Holdings SA, a spokesman for BAII said. The stake was between three and five pct but no further details of the deal, which was announced simultaneously in Paris, London and Hong Kong, were immediately available. BAII, which is 50 pct Arab owned, is looking to expand its activities in the Far East and recently established a wholly-owned merchant banking subsidiary in Hong Kong, the spokesman said. The group had earnings of 15.4 mln dlrs in 1985.