Japanese banking giant Mitsubishi UFJ Financial Group has said it will buy a stake in troubled Wall Street rival Morgan Stanley.
The firm said the stake will account for 10% to 20% of Morgan Stanley's common shares.
A price has not yet been decided. Further details will be revealed after the group has completed due diligence.
Morgan Stanley has US banks make shock status switch ...
Write-downs hit JP Morgan profit ...
Suicide bomibng in Kabul claims 28 lives, leaves 141 wounded ... been humbled by the credit crisis tearing through the world's financial system.
(BBC)
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