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Wachovia (WB) may be forced to buy Prudential out of its stake in a retail brokerage joint venture, the NY Post says. The deal, struck in 2003, gives Prudential the option to force Wachovia, which is already strapped for cash, to buy it out of its share of the venture. New York Post:
Under the terms [...]

BOTTOM-DIVING AT WACHOVIA
Things have gotten so dire at Wachovia (WB) that it’s own partners are anxious to sell, even if it means getting out at the bottom. That’s the take of the braintrust at the New York Post, which has reported that Prudential (PRU), which is still holding a 23% stake in the banking concern’s [...]