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Friday, July 9, 1999 Odd Lots, July 9, 1999 Morningstar sells stake to Softbank From The Wall Street Journal As reported yesterday by MFWire.com, Morningstar will be selling a 20% stake to Japan's Softbank in an effort to boost their Internet presence. The Japanese global content provider is paying $91 million for a piece of the Chicago-based mutual fund research firm. The Wall Street Journal said the deal is likely to delay a Morningstar IPO, which has been rumored in the mutual fund industry. However, the new capital should help Morningstar expand its Internet effort making it a even more attractive company down the road.
Value Line pops up first Printed from: MFWire.com/story.asp?s=24308 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |