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Journalism of Courage
Head of $2.5 billion US Buyout fund W.L. Ross & Co., and investor Wilbur Ross says he is keen to buy more Japanese regional banks, including Ashikaga Bank now under state control, saying further consolidation is inevitable the overcrowded sector. ‘‘We would be very interested in more regional banks and we think there needs to be more consolidation among regional banks. There are too many of them,’’ he said. Ross scored a success in rebuilding a small regional bank that collapsed in May 1991. He called MTFG’s potential rescue takeover of UFJ Holdings, ‘‘a very good change’’ that could prompt investment in the country. —(Reuters)
