Dec 12 Mitsubishi UFJ Financial Group
is set to buy Bank of America Corp's stake in their
Japanese private banking venture for 39 billion yen ($470
million), Bloomberg reported, quoting two people with knowledge
of the matter.
Japan's biggest bank will own Mitsubishi UFJ Merrill Lynch
PB Securities Co after buying the 49 percent, Bloomberg
Bank of America's Japanese brokerage unit will continue to
provide mutual funds, derivatives and structured products to the
private bank even after the sale.
A Bank of America spokesman declined to comment on the