--Wells Fargo & Co. is considering a sale of its 20% stake in Hong Kong-based Shanghai Commercial Bank Ltd. as part of its turnaround plan, Bloomberg reports, citing unnamed sources.

--A possible sale of the stake, which the U.S. bank perceives as nonstrategic, could amount to almost $1 billion, although no final decision has been made, according to Bloomberg.

Full story: https://bloom.bg/3ID6te1

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

January 26, 2022 00:18 ET (05:18 GMT)

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