Treasury- No comment on Temasek,investment welcome
Source: http://www.raymondteo.com/2008/07/30/treasury-no-comment-on-temasekinvestment-welcome/Posted on Wednesday, June 17th, 2009 | In Market Commentary
Treasury- No comment on Temasek,investment welcome
WASHINGTON, July 29 (Reuters) – A senior U.S. Treasury official declined to comment on Tuesday on Singapore state-run Temasek Holdings’ [TEM.UL] likely expansion of its stake in U.S. investment bank Merrill Lynch & Co (MER.N: Quote, Profile, Research, Stock Buzz) but said the United States welcomed foreign investment.
“As a general perspective, investment in the United States has been a great driver of innovation and is something that we welcome. It is a great validation,” David McCormick, U.S. Undersecretary of the Treasury for International Affairs, told reporters after delivering a speech.
Merrill said on Monday it would raise $8.5 billion of fresh capital by selling new stock, including a $3.4 billion purchase by Temasek. (Reporting by Alister Bull; Editing by James Dalgleish)
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