JP Morgan linked with China JV sale

JP Morgan is in talks to sell its stake in a China securities joint venture to its partner First Capital Securities, amid rumours that the US bank was aiming for a stronger joint venture.

JP Morgan is discussing a potential stake sale to its China JV partner, according to an announcement on October 20. 

It is uncertain whether the deal will close, according to a First Capital spokeswoman, who added that “even if the deal gets closed, we are not certain at this stage as to the proportion of the stake that will be sold.”

JP Morgan owns 33.3% in the joint venture, the maximum limit allowed at the time of the launch of the JV in 2010.

There are market rumours that the bank was planning to quit its China venture in a move...

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