Wednesday, May 9, 2007

Morgan Stanley in talks to sell Korea asset manager

(Reuters) - U.S.-based Prudential Financial Inc. is another bidder for an 87.6 percent stake in Landmark Investment Management, owned by Morgan Stanley's private equity fund LM Investment Management Holdings AB, the sources said on Wednesday.

Regulatory and banking sources had said earlier that Morgan Stanley has been seeking to sell the unit, which it bought in 2002 for 44 billion won , since last year, but they declined to give the value of a potential deal.


Read more at Reuters.com Business News

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