MUFG To Merge Brokerage Unit,Morgan Stanley Japan Unit-Source
24 Marzo 2009 - 8:04PM
Noticias Dow Jones
Mitsubishi UFJ Financial Group Inc. (8306.TO) likely merge its
brokerage firm unit with Morgan Stanley's (MS) Japan unit and hold
a 60% stake in the combined entity, a person familiar with the
matter said Wednesday.
The merger announcement between unlisted Mitsubishi UFJ
Securities and Morgan Stanley Japan could be made as early as this
week, the person said.
Japan's largest bank invested $9 billion to buy a 21% stake in
Morgan Stanley last September.
Both firms have been in talks, aiming to give more details on
their relationship by June 30.
-By Atsuko Fukase, Dow Jones Newswires; 813-5255-2957;
atsuko.fukase@dowjones.com