We consider a single copper oxide plane with infinite Hubbard U on the copper sites and direct oxygen-oxygen and copper-oxygen overlaps as a model for high-
Tc materials. Using a slave-boson representation, we find a region of parameter space with a charge-transfer-type metal-insulator transition at zero doping, i.e, half-filling in a mean-field limit. Performing a 1/N expansion we calculate the photoemission and inverse-photoemission spectra near the transition for both the n-type and p-type high-
Tc materials using the sudden approximation.