UBS Group shares are trading lower following reports suggesting that the company sold a partial stake in its China joint venture to Beijing State-owned Assets Management to adhere to local regulations.
Portfolio Pulse from Benzinga Newsdesk
UBS Group shares are trading lower after reports indicated that the company sold a partial stake in its China joint venture to Beijing State-owned Assets Management to comply with local regulations.
June 25, 2024 | 3:49 pm
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UBS Group shares are trading lower following the sale of a partial stake in its China joint venture to Beijing State-owned Assets Management to comply with local regulations.
The sale of a partial stake in the China joint venture indicates a strategic move to comply with local regulations, which may be perceived negatively by investors in the short term, leading to a decline in UBS's stock price.
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