After profiting billions from its investment in Merrill Lynch, GIC is looking to invest in Morgn Stanley. If successful, Singapore will be the Banking Powerhouse of the world.
GIC may invest in Morgan StanleyBy Lim Gek Hua, Channel NewsAsia | Posted: 18 September 2008 1742 hrs
SINGAPORE: The Government of Singapore Investment Corp (GIC) may explore opportunities to invest in Morgan Stanley.
A spokesman for the Singapore state fund told Channel NewsAsia that GIC explores all opportunities when approached.
She declined to comment on whether the bank had approached GIC.
Earlier reports said that Morgan Stanley, the United States' number two investment bank, had been in talks with Wachovia Corp and at least one other bank in a bid to escape the worsening credit crunch.
Morgan Stanley was also reported to be in talks with China's CITIC Group, the mainland's largest financial conglomerate. - CNA/vm
GIC may invest in Morgan StanleyBy Lim Gek Hua, Channel NewsAsia | Posted: 18 September 2008 1742 hrs
SINGAPORE: The Government of Singapore Investment Corp (GIC) may explore opportunities to invest in Morgan Stanley.
A spokesman for the Singapore state fund told Channel NewsAsia that GIC explores all opportunities when approached.
She declined to comment on whether the bank had approached GIC.
Earlier reports said that Morgan Stanley, the United States' number two investment bank, had been in talks with Wachovia Corp and at least one other bank in a bid to escape the worsening credit crunch.
Morgan Stanley was also reported to be in talks with China's CITIC Group, the mainland's largest financial conglomerate. - CNA/vm