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Market Chatter: UBS on Track to Acquire Full Ownership of UBS Securities in China
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Market Chatter: UBS on Track to Acquire Full Ownership of UBS Securities in China
Nov 26, 2024 3:54 AM

06:35 AM EST, 11/26/2024 (MT Newswires) -- UBS (UBS) is on track to fully acquire UBS Securities after its joint venture partner, Beijing State-owned Asset Management, or BSAM, decided to sell its 33% stake in the Beijing-based securities brokerage, Reuters reported Tuesday, citing a spokesperson for the bank.

UBS currently owns 67% of UBS Securities. The sale is valued at 1.5 billion yuan ($207.10 million), the report said.

UBS did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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