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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment, Market

China’s sovereign wealth fund allowed to buy voting stake in Morgan Stanley

Posted on 02 September 2010

From Nationalpost.com: The U.S. Federal Reserve yesterday approved China Investment Corp.’s bid to buy up to a 10% voting stake in investment giant Morgan Stanley. The U.S. central bank and regulator said the government-backed wealth fund was free to buy up the 10% stake, noting that CIC had vowed not to try to control how the U.S. firm is run.
“Based on the foregoing and all the facts of record, the board has approved CIC’s application to acquire up to 10% of the voting shares of Morgan Stanley,” it said……………………………………….Full Article: Source


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