Taiwan's Fubon in fund tie-up with China's Founder
TAIPEI, March 29 |
TAIPEI, March 29 (Reuters) - Fubon Financial (2881.TW), parent of Taiwan's No.2 life insurer, said on Monday it will form a fund management joint venture in China with Founder Securities, in a deeping sign of improving trade ties across the Taiwan strait.
Fubon's brokerage arm will invest 66 million yuan ($9.67 million) in the tie-up, according to a company statement to the Taiwan stock exchange.
Sources had told Reuters in February that the two were discussing a tie-up.
(Reporting by Faith Hung)
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