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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

CIC sells another 1.6mln Morgan Stanley shares

Posted on 12 August 2010

From Dow Jones: China Investment Corp. continued to pare down its Morgan Stanley (MS) stake, unloading another 1.6 million shares of the stock, according to a regulatory filing late Wednesday.
Over the past three weeks, China’s sovereign-wealth fund has sold 25.5 million shares of the investment bank for $692.4 million. CIC could be selling the shares to keep its stake in Morgan Stanley below 10%, in order to avoid closer regulatory scrutiny……………………………………….Full Article: Source

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