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Standard Chartered PLC In Talks To Buy Morgan Stanley's Morgan Stanley India Wealth Unit-The Economic Times

Wednesday, 27 Feb 2013 10:02am EST 

The Economic Times reported that Standard Chartered PLC is in talks to buy Morgan Stanley's Indian private wealth management unit, which manages about $1 billion including loans, two sources with direct knowledge of the situation said. A couple of Indian financial services companies have also shown interest in buying the wealth management business, and a formal bidding process is expected to start soon, one of the sources told Reuters. The source did not name the companies. 

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