Morgan Stanley, Home Inns Don’t Have Motel Sale Pact, News Says

Morgan Stanley (MS) hasn’t signed a pact to sell its stake in Shanghai Motel Management Ltd. to Home Inns & Hotels Management Inc. (HMIN), the China Business News reported today, citing Sun Jian, Chief Executive Officer of Home Inns.

Unidentified online rumors had earlier said that Home Inns has reached an agreement to purchase a 59 percent stake in Motel from Morgan Stanley with no more than $500 million, the newspaper said.

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