Daily Business News
Monday, October 02, 2006
  Morgan Stanley buys bank to gain China access (Reuters)

Morgan Stanley CEO John Mack addresses a news conference at the Dubai International Financial Center United Arab Emirates March 26 2006. Morgan Stanley said on Monday it has acquired China's Nan Tung Bank a deal that would give the Wall Street giant a coveted onshore commercial banking license in China ahead of U.S. investment bank rivals. (Tamara Abdul Hadi/Reuters)Reuters - Morgan Stanley said on Monday it has acquired China's Nan Tung Bank a deal that would give the Wall Street giant a coveted onshore commercial banking license in China ahead of U.S. investment bank rivals.


 
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