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Morgan Stanley is
buying stakes put up for sale by its partner in their China
securities and mutual funds joint ventures for about $150
million, according to a statement by the partner, moving. | May 30, 2021
UPDATE 1-Morgan Stanley nears full ownership of China ventures with stake buys Reuters 1 hr ago
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HONG KONG, May 28 (Reuters) - Morgan Stanley is buying stakes put up for sale by its partner in their China securities and mutual funds joint ventures for about $150 million, according to a statement by the partner, moving towards full ownership of the businesses.
The Wall Street bank joins several other foreign banks that are looking to take full ownership of their Chinese businesses after Beijing scrapped foreign ownership limits in the securities and mutual fund industry on April 1 last year.
Outright ownership could allow foreign banks to expand their operations in the multitrillion-dollar Chinese financial sector, and better integrate them with their global businesses.
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Morgan Stanley nears full ownership of China ventures with stake buys Morgan Stanley is buying stakes put up for sale by its partner in their China securities and mutual funds joint ventures for about US$150 million, according to a statement by the partner, moving towards full ownership of the businesses.
FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton
28 May 2021 05:20PM Share this content
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HONG KONG: Morgan Stanley is buying stakes put up for sale by its partner in their China securities and mutual funds joint ventures for about US$150 million, according to a statement by the partner, moving towards full ownership of the businesses.
Morgan Stanley nears full ownership of China ventures with stake buys reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.