Morgan Stanley may exit CICC early next year
Morgan Stanley's tentative plan to offload its $1 billion stake in Chinese investment bank China International Capital Corp. (CICC) will be approved by China's securities regulator by February 2011, the official Shanghai Securities News reported earlier.
The paper obtained the information from an unidentified source, saying that the application has already received a green light from the PRC State Council, and that completion is now just a formality. Should...
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