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SINGAPORE : Temasek Holdings has declined to comment on reports it may sell part of its stake in the US investment bank Merrill Lynch to South Korea's Hana Bank.
The size of the stake has not been decided, but reports have said the Singapore investment company could sell one million shares to Hana.
The deal is said to be worth US$50 million and is said to be aimed at spreading Temasek's risks.
Temasek holds a 9.4 percent stake, or about 92 million shares, in Merrill Lynch. It bought the stake for US$4.4 billion last December.
Temasek also has an option to buy another US$600 million in Merrill stock by March 28 this year.
The investment firm is also a major shareholder of the parent company of Hana Bank with a 9.6 percent stake. - CNA /ls
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