Others News
- Merrill breaks off JV plan with partner
Date: 1-Aug-2007 Sources: (Shenzhen Daily)
MERRILL Lynch has called off a planned investment banking joint venture with China's Huaan Securities after it failed to get government approval, sources close to the deal said yesterday.
Merrill Lynch is now in talks with other Chinese brokerages for a similar plan in the world's fastest growing major economy, the sources said. In January 2005, the firm said it would put up about US$32 million for a one-third stake in a new investment banking venture with mid-sized Huaan Securities.
Sponsor Results:
