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Fed approves CIC stake in Morgan Stanley

Comments (0) | 1 Sep 2010 | Rating Rating (-1 to +1): 0.0

| Print by Tim Human

State-owned Chinese fund allowed to control up to 10 percent of US bank’s common stock

The US Federal Reserve Board has approved China Investment Corporation’s (CIC) bid to acquire up to 10 percent of the voting rights in Morgan Stanley.

In a statement released late on Tuesday, the Board said CIC had given it assurances the state-owned investment fund would not try to take ...

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