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Softbank to Introduce E*Trade to H.K. Via Cheung Wah, SCMP Says
By Mike Yee
Hong Kong, March 27 (Bloomberg) -- Softbank Corp. may
introduce E*Trade Group Inc., its 25 percent-owned online broker in U.S., into Hong Kong through its Hong Kong-listed vehicle, Cheung Wah Development Co., as early as the second half of the year, the South China Morning Post reported, citing Yoshitaka Kitao, Cheung Wah's chairman. Softbank, one of the world's largest Internet investors, may introduce its 11 other affiliated on-line financial services providers, including Morningstar Inc., E-loan
Inc., InsWeb Corp. and CyberCash Inc. into Hong Kong eventually, the paper quoted Kitao as saying.
Cheung Wah, which will change its name to Softbank
International Investment Strategic Ltd., fell 1.9 percent to HK$7.8 on Friday.
(South China Morning Post 03/27, Business Post, P.3) |
