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Japan's SMFG in Discussions to Purchase 10% Stake in SBI Holdings, Nikkei Reports

--Sumitomo Mitsui Financial Group Inc. is in discussions to purchase a 10% stake in SBI Holdings Inc., which could be worth over 60 billion yen ($444.1 million), with the objective of strengthening their securities businesses, Japanese business daily Nikkei reported Tuesday, citing unnamed sources.

--SBI Holdings is likely to issue new shares to SMFG, while SBI is expected to consider a small investment in SMFG, the Nikkei cited the sources as saying.

 

Full story: https://s.nikkei.com/3n2KNPx

 

Write to Ronnie Harui at ronnie.harui@wsj.com

 

(END) Dow Jones Newswires

June 21, 2022 05:58 ET (09:58 GMT)

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