According to a source, Ovetii is due to comment on a possible merger to equivocate the possible setback on the Wall Street's ambitions to tap the world's fastest-growing stock market.
Greece, Hellenic Republic (Press Release) October 29, 2007 --
Due to newly imposed regulations, there are only two prominent global securities firms with controlling investment banking units in China, where 47 million new stock trading accounts have been opened this year. Rumours hint at Ovetii being involved in a possible merger with one of these two firms.
The new rules have prevented rivals of such global securities firms from obtaining controlling stakes in the nation's brokerages. Therefore, should the rumours prove correct, this would be great news for Ovetii and their investors.
However, at this stage, Ovetii has declined to offer any official comment on rumours of the possible merger.
The new rules have prevented rivals of such global securities firms from obtaining controlling stakes in the nation's brokerages. Therefore, should the rumours prove correct, this would be great news for Ovetii and their investors.
However, at this stage, Ovetii has declined to offer any official comment on rumours of the possible merger.
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