Monday, July 21, 2008

So what happens to Morgan Stanley and Dresdner Kleinwort profits outlook now?

HBOS offer flop leaves underwriters with £2.5bn

Morgan Stanley and Dresdner Kleinwort now face taking £2.5 billion worth of HBOS shares onto their own balance sheets. On Friday, rival bank Barclays said just 19 per cent of its £4.5 billion placing and open offer had been subscribed for by investors.

Posted by paul @ 10:45 PM (1418 views)
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