Fed allows CIC to be second-largest foreign investor in Morgan Stanley
China Investment Corporation (CIC) has reportedly received the green light from the US Federal Reserve to take up to a 10% voting stake in Morgan Stanley, which would make the SWF the second-largest investor in the financial giant after Bank of Tokyo Mitsubishi UFJ, which holds a 20% stake.
CIC currently owns a 2.49% stake in the US bank, and has owned $5.58 billion worth Morgan Stanley securities since December 2007 which was converted into common shares earlier this month. After the share...
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