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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