BOSTON ( TheStreet) -- Some may look at it as bottom-feeding, others opportunistic investing. Pimco, the world's biggest manager of bonds, is buying a small stake in a tiny, struggling North Carolina bank in a Mayberry-like setting.The Newport Beach, Calif.-based firm's year-old Pimco Bravo Fund is seeking government approval to acquire a 20% stake in ECB Bancorp (ECBE), an Engelhard, N.C., bank with a market value of a mere $32 million and deposits of $945 million.
Pimco Buys on the Cheap -- This Time a Company
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