05.08.2010 - CIC pushes on with Morgan Stanley sell-off
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
Print