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Nisha Gopalan

Wall Street's Chinese Chimera

Morgan Stanley and UBS want to raise their minority stakes in  ventures that remain also-rans.

Wall Street is split on the value of having a Chinese joint venture.

Morgan Stanley and UBS Group AG are planning to raise their stakes in their securities operations in the country to the maximum 49 percent allowed, just weeks after JP Morgan Chase & Co. severed ties with its local partner amid frustration over a lack of control.