Japan's Sumitomo Mitsui Financial Group Inc is considering increasing its stake in U.S. investment bank Jefferies to about 20%, Bloomberg News reported on Thursday.
Sumitomo Mitsui is in talks to boost its roughly 15% stake in the New York-based bank, potentially by acquiring preferred stock, the report said, citing people familiar with the matter.
Jefferies shares rose 5% in early trading in New York on the news.
The two firms are also in discussions to merge parts of their equities businesses in Japan, potentially through the establishment of a joint venture, the Bloomberg report added.
Reuters could not independently verify the report. Jefferies did not immediately respond to Reuters' request for comment.
https://ca.finance.yahoo.com/news/japans-smfg-considers-raising-stake-140106818.html
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.