Littlespeck.com
25 Jul 2008
Singapore's sovereign fund Temasek Holdings still owns 86.9m shares in US investment bank Merrill Lynch, unchanged since March, sources told Reuters.
A source briefed on the situation said since Mar 31 Temasek had not reduced its
shareholding in Merrill, denying a market rumour that it has sold shares in the US bank.
Temasek invested US$5b in Merrill Lynch in December and February at $48 a share, at a time when sovereign funds from Asia and the Middle East were propping up global banks reeling from subprime-related credit losses.
Merrill shares, which closed at $29.04 on Thursday, are 40 percent below Temasek's
purchase price. (Reuters)
Is short-selling at work?
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