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Article: Morgan Stanley Nears European Mortgage Buy: The investment bank is closing in on mortgage company acquisitions in Germany and Estonia.
- Article from:
- Investment Dealers' Digest
- Article date:
- October 9, 2006
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Morgan Stanley is seriously considering acquiring mortgage companies in Germany and Estonia, according to a source who says the investment bank has already reached the due diligence stage.
No more details could be learned and Neal Shear, Morgan Stanley's head of fixed income, declines to comment on the matter. However, he confirms the investment bank is looking for further mortgage growth in Europe as it seeks to create a "hub and spoke" operation through a series of smaller acquisitions to support the bank's UK business, which it beefed up in December with the acquisition of mortgage packager Advantage Home Loans for an undisclosed amount.
Europe is an ...