UBS pulls plug on StanChart mutual fund deal


UBS Global Asset Management has announced that it will not proceed with its planned acquisition of Standard Chartered's mutual fund business in India. Standard Chartered has used its mutual fund platform to sell structured products to retail clients.

Following the expiry of the sale and purchase agreement that the two financial institutions executed in January 2007, UBS and Standard Chartered have decided not to continue negotiations regarding the acquisition by UBS of the Standard Chartered

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