HONG KONG: London Stock Exchange Group Plc’s plan to sell Russell Investments to China's Citic Securities Co is faltering and may soon collapse, people with knowledge of the matter said.
The plunge in the Chinese stock market since mid-June, as well as investigations into some Citic Securities executives, have derailed the discussions, the people said, asking not to be identified as the information is private. China's biggest listed brokerage had been in advanced talks to buy the fund-management business for about US$1.8bil, a person with knowledge of the matter said in July.
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