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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

CIC pushes on with Morgan Stanley sell-off

Posted on 05 August 2010

From Marketwatch.com: China Investment Corp. (CIC) has sold 25 million shares worth $558 million in Morgan Stanley since July 21. Following the most recent sell-off, CIC now holds 155.7 million shares, representing an 8.9% stake in the New-York based firm.
In 2007, CIC purchased a $5.6 billion stake in Morgan Stanley , just three months after the Chinese sovereign wealth fund was established. The mandatory convertible options issued by Morgan Stanley expire Aug. 17, 2010……………………………………….Full Article: Source

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