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Temasek still keen on Merrill Lynch
Wed, 07 Jan, 2009
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Temasek still keen on Merrill Lynch
Thu, 21 Aug 2008, 17:02:00
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<b>Merrill Lynch</b>'s largest shareholder has hinted it is interested in increasing its stake in the cash-strapped stockbroker, even though it has taken a bath on its initial investment. <br /><br />Suppiah Dhanabalan, chairman of Singapore state-owned Temasek, said the investment company would consider upping its stake in the US securities firm if the opportunity arose, although whether it would buy more shares would depend "on our assessment and risk diversification."<br /><br />Temasek has around a 5% stake in Merrill Lynch, for which it paid $5bn on Christmas Eve. Since then the value of the shares has halved.<br /><br />The company is seeking to reduce its reliance on Singapore companies by investing in overseas companies. Temasek also has a large investment in UK banking group Barclays.
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