CICC share change approved
By Soo Ai Peng and Ruby Lian | China Daily | Updated: 2010-12-01 08:04
SHANGHAI - China International Capital Corp (CICC), the country's top investment bank, has won regulatory approval for a major shareholding change, in what State media said was a green light for Morgan Stanley to sell its stake in CICC.
The China Securities Regulatory Commission (CSRC) said in a statement on its website that it had on Nov 26 approved CICC's application for the change that involved a stake of more than 5 percent in the company.
The regulator did not state the name of the shareholder involved, but the official Shanghai Securities News reported on Tuesday, without citing any sources, that the stake in question is held by Morgan Stanley.
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