Temasek May Lift Stake in Merrill, Betting on Rebound (Update1)

Bloomberg.com, 21 Aug 2008, By Jean Chua and Chen Shiyin

Aug. 21 (Bloomberg) -- Temasek Holdings Pte, the biggest shareholder in Merrill Lynch & Co., may acquire a larger stake in a bet the U.S. securities firm will rebound.

Temasek, Singapore's state-owned investment company, paid $5 billion for a Merrill stake in December, and said last month it's committing a further $900 million. Temasek's assets rose 13 percent to S$185 billion ($131 billion) in the year ended March from S$164 billion a year earlier, Chairman S. Dhanabalan said.

Read More