Mitsubishi UFJ Financial Group
said Friday it would consider merging its investment banking unit with the Japanese operations of
, according to reports.
Japanese public broadcaster
reported plans for the merger but didn't provide details or cite sources, the
"Assessing what kind of synergies there would be is something to be considered from now. There are many options including the establishment of a joint venture," Mitsubishi UFJ Securities CEO Yasumasa Gomi told
Gomi said no agreement has been reached, contrary to the
report, according to
A spokeswoman at Morgan Stanley in Tokyo said nothing has been decided but the two firms will continue talks on "all the options to maximize the strategic benefits of the global alliance," reports
Mitsubishi UFJ last month agreed to buy a 21% stake in Morgan Stanley for $9 billion, making Mitsubishi UFJ the bank's top shareholder. And along with
, Morgan Stanley last month registered with the
as a bank holding company.
This article was written by a staff member of TheStreet.com.