Tags: Fed | China | Fund | buy | Morgan | Stanley | Shares

Fed Clears China Fund to Buy Morgan Stanley Shares

Tuesday, 31 Aug 2010 03:59 PM

The Federal Reserve on Tuesday approved a proposal by Chinese sovereign wealth fund China Investment Corp. to buy up to 10 percent of the voting shares of Morgan Stanley.

CIC has said that it does not intend to seek controlling interest of Morgan Stanley and the Fed said it did not see any adverse impact on competition or on the concentration of banking resources from allowing the deal to go ahead.

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The Federal Reserve on Tuesday approved a proposal by Chinese sovereign wealth fund China Investment Corp. to buy up to 10 percent of the voting shares of Morgan Stanley. CIC has said that it does not intend to seek controlling interest of Morgan Stanley and the Fed said...
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2010-59-31
Tuesday, 31 Aug 2010 03:59 PM
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