Optimum News 12 Newsday.com MSG Varsity Explore LI AM New York Optimum Autos Optimum Homes

Content Preview Newsday 7 day/Optimum Online® subscribers click here for full access
Not a Newsday or Optimum Online® subscriber? Click here

China's Haitong Securities to buy Hong Kong broker

Published: November 23, 2009 2:05 AM
By The Associated Press  

Quick ReadChina's Haitong Securities to buy Hong Kong brokerage Taifook Securities

SHANGHAI (AP) — Haitong Securities has agreed to acquire Hong Kong-based rival Taifook Securities for 1.82 billion Hong Kong dollars ($236 million) in the first such takeover by a mainland Chinese securities house, the companies said Monday.

Shanghai-based Haitong, the mainland's second largest brokerage by assets, plans to buy a 52.9 percent stake in Taifook Securities Group owned by NWS...

Newsday & ExploreLI are now available at no charge to Newsday 7-day and Optimum Online® subscribers. To continue reading, please log in or register now.

Already
registered on
newsday.com?
Log in
Newsday 7-day
or Optimum Online®
subscriber?
Get access
Not a Newsday 7-day
or Optimum Online®
subscriber?
Click here