A large Japanese bank is considering buying up to 20% of troubled Wall Street bank, Morgan Stanley.
Mitsubishi UFJ is said to be in talks to buy between 10% and 20% of the firm’s normal shares, but has yet to fix a price. The Japanese firm is currently conducting due diligence on Morgan Stanley, and will decide on a price when the work is completed. Morgan Stanley, along with other US investment banks, has seen severe share price fluctuations since the demise of Lehman Brothers last week. If the deal goes ahead, Mitsubishi UFJ will be able to appoint at least one director to the board at Morgan Stanley. If you would like to comment on this story, contact: John Bakie Tel: 020 7484 980...
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