(The Wall Street Journal) -- Morgan Stanley is putting up for sale its stake in a top Chinese investment bank, offering global private equity firms a chance to buy entry into China's rapidly growing financial markets.
The Wall Street firm intends to sell its 34.3% stake in China International Capital Corp as it focuses on setting up a new securities joint venture in China, according to people familiar with the matter. Bankers say the stake could be worth more than $800m (â¬543m) -- several times book value.
