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Non-Tech : TD Waterhouse Group (TWE) -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (1008)12/15/1999 3:03:00 AM
From: 2MAR$  Read Replies (1) | Respond to of 1413
 
(REUTERS) BTM, TD Waterhouse to form Japan online brokerage

TOKYO, Dec 15 (Reuters) - Bank of Tokyo-Mitsubishi (BTM)
<8315.T> and TD Waterhouse Group Inc <TWEN.N> said on Wednesday
they had agreed to form an online brokerage firm in Japan around
spring 2000.
BTM, Japan's biggest bank, will take a 55 percent stake in
the new firm, to be capitalised at 5.5 billion yen. TD
Waterhouse, the world's number two discount stock broker, will
take the remaining 45 percent stake.
MORE
*** end of story ***



To: Ian@SI who wrote (1008)12/15/1999 7:58:00 AM
From: Alan Casey  Read Replies (1) | Respond to of 1413
 
Presumably the lock-out provision applies to TD Bank. I have not heard that they intend to sell more shares; unless they require more capital for the acquisition of Canada Trust or other acquisitions they might make.

Any sale might be a positive if it increases the liquidity of this stock.


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