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Morgan Stanley seeks buyers

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Morgan Stanley seeks buyers

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Wall Street’s second-largest investment bank, Morgan Stanley, is reportedly casting around for a buyer in the wake of Lehman Brother’s collapse and the sale of Merrill Lynch to Bank of America.

Sources said a merger with US regional bank Wachovia is a possibility or it could sell a larger stake to state controlled fund China Investment Corporation which bought 9.9% of Morgan Stanley last December.

HSBC and the Government of Singapore Investment Corporation have also been mentioned as possibly interested.