IE Staff
(October 26 – 10:15 ET) –
TD Waterhouse Group Inc. is
going online in the world’s biggest
democracy.
The firm has announced a joint
venture agreement with Tata
Finance Securities Ltd. to
pursue discount brokerage and other
online financial services in India.
Waterhouse will own 49% of the
firm, which will become known as
Tata Finance/TD Waterhouse Ltd.
Terms of the deal were not
disclosed.
Tata Finance Securities is a
member of the National and Bombay
stock exchanges. It is a
subsidiary of Tata Group,
a $7.9 billion conglomerate is
based in India with ventures in
the financial services, information
technology, automobile, steel,
cement and hospitality sectors.
-IE Staff
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