China SWF invests $5 billion in Morgan Stanley

The China Investment Corporation (CIC) became the latest sovereign wealth fund to capitalise on commercial banks' subprime losses on Wednesday, injecting $5 billion into Morgan Stanley, the American financial services group. The deal could lead to CIC owning as much as 9.9% of the American bank.

The CIC agreed to buy $5 billion-worth of equity units which will pay out a fixed annual rate of 9% until August 2010, when the shares will be converted to common stock. The value of the converted sto

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: