The month in review

Chinese stake

Morgan Stanley has sold a $5 billion stake to China's sovereign wealth fund, China Investment Corporation, which now owns a 9.9% stake in the US investment bank. Morgan Stanley revealed that a total of $9.4 billion in subprime-related writedowns had driven it to a fourth-quarter loss. It wrote off a further $5.7 billion last December, on top of the previously announced $3.7 billion charge last autumn.

Merrill Lynch has sold shares worth up to $6.2 billion to Singapore sovereign

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here