CNBC said according to unnamed sources, Morgan Stanley is in talks to possibly be acquired by China’s CITIC Group, though no deal was certain.
“Morgan Stanley’s senior management has been in talks with a number of potential buyers, and a deal becomes more likely as the investment bank’s stock — which plunged more than 24 percent Wednesday — declines further. London-based HSBC has also been cited as a possible suitor for Morgan Stanley,” CNBC reported on its Website.
Spokesman for both Morgan Stanley and HSBC in Hong Kong declined to comment on the report. (Reporting by Lincoln Feast; Editing by Jean Yoon)