Tuesday, Nov 25, 2008
DUBAI (Zawya Dow Jones)--Goldman Sachs Group Inc. (GS), UBS AG (UBS), Morgan Stanley (MS) and Credit Suisse Group (CS) are in talks with the Dubai government about restructuring the emirate's financial system, The Times reported Tuesday.
The paper reported on its Web site, without saying where it got the information, that investment bankers from London were flying into the United Arab Emirates to help with the restructuring.
Zawya Dow Jones reported on Nov. 17 that Dubai's government had appointed advisers to help restructure its economy amid rising concern over $70 billion of debt held by the emirate's state-owned companies.
Newspaper Web site: http://business.timesonline.co.uk
-Dubai Bureau, Dow Jones Newswires; +9714 3748044; djnews.dubai@dowjones.com
Copyright (c) 2008 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
25-11-08 0452GMT
