Sunday, Dec 30, 2007
Please Sir can I have some more
Guardian: Merrill seeks more funds to avoid crisis
$4.4bn from Singapore's Temasek not enough - John Thain, the new chief executive of Merrill Lynch, is this weekend in talks with Chinese and Middle Eastern sovereign wealth funds that could lead to the sale of another big stake in the US bank in a desperate bid to raise capital, according to sources in London and New York.The discussions come just days after Thain was forced on Christmas Eve to sell $4.4bn (£2.2bn) of stock to Singapore investment firm Temasek as part of a wider plan to raise some $7.5bn.
So just how much money will eventually be enough
Posted by jack c @ 10:43 AM (126 views) Add Comment
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