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.

To contact the editor responsible for this story: Bloomberg News at jliu42@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.