US investment bank Morgan Stanley is holding talks with Wachovia and China Investment about a takeover or investment plan. It was earlier reported that after the demise of Lehman Brothers, Morgan Stanley might also be in hot waters. Shares of the bank have been battered by effect of the current credit crisis.
It is said that there would be more mergers in the banking sector because of the dramatic changes in the world market. Banking giant Merrill Lynch will also be taken over by Bank of America in a $50bn deal. It was also facing financial problems.
US investment bank Morgan Stanley is holding talks with Wachovia and China Investment about a takeover or investment plan. It was earlier reported that after the demise of Lehman Brothers, Morgan Stanley might also be in hot waters. Shares of the bank have been battered by effect of the current credit crisis.
It is said that there would be more mergers in the banking sector because of the dramatic changes in the world market. Banking giant Merrill Lynch will also be taken over by Bank of America in a $50bn deal. It was also facing financial problems.
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