New York-based Merrill may buy shares from Citigroup Venture Capital, which holds a 75 percent stake in the Mumbai-based brokerage, the newspaper said. It may also receive a preferential allotment of equity securities in Sharekhan. The total value of the 20 percent stake on offer may be close to 3 billion rupees ($76 million), the report said. (Bloomberg)
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Merrill May Buy Stake in India's Sharekhan
Merrill Lynch & Co. may buy a stake in Indian stockbroking firm Sharekhan Ltd., the Economic Times reported, without saying where it got the information.
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