Vietnam
Banking, Capital Markets, Economics, Featured Work, Politics, Sovereign Wealth Funds, Vietnam - Saturday, March 1, 2008 15:07 - 0 Comments
Vietnam vetoes Morgan Stanley deal
Asiamoney, March 2008
Morgan Stanley announced a new joint venture in Vietnam in February: a landmark, the first of its kind. But it wasn’t the venture everyone was expecting. That one had been
canned weeks earlier, in a turn of events that says a lot about the competitiveness of foreign investment banks trying to get a foothold in one of the world’s most vibrant frontier markets.
What Morgan Stanley announced on February 13 was a joint venture with a local firm called Gateway Securities, a Hanoi-based brokerage and investment banking outfit. Morgan Stanley will hold 49% of the venture, which among other things will be able to conduct underwriting, advisory, brokerage, research and principal investing. Continue…
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