Morgan Stanley one step closer to exiting CICC stake
China’s securities regulator, the China Securities Regulatory Commission (CSRC), has approved US investment bank Morgan Stanley's plan to sell its 34.3% stake in China International Capital Corp., (CICC), one of the country’s large Chinese brokerages and investment banks, according to reports.
The CSRC said in a notice on its website that it had approved a transfer of more than 5% of CICC's shares. Concurrent with the planned stake divestment, a consortium comprising Kohlberg Kravis Roberts...
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