09.08.2010 - CIC's bitter payoff for Morgan Stanley stake
From Marketwatch.com: For more than two years, quarterly dividends from Morgan Stanley rolled into a China Investment Corp. account at the healthy rate of 9% per year. It's been a pleasant, predictable payoff to reward the Chinese sovereign wealth fund's purchase of a $5.6 billion stake in Morgan Stanley in December 2007, just a few months after CIC was formed. But attached to the deal was a special financing clause that, like a dark thunderstorm cloud, has been steadily growing in risk potential for CIC..............................................Full Article: Source
Print