Sale of Tokyo Sowa to WL Ross canceled

TOKYO, Japan - Kyoji Matsuda (2nd from L), a deputy governor of the government's Deposit Insurance Corp. (DIC), flanked by administrators of Tokyo Sowa Bank, speaks at a news conference in Tokyo on Nov. 30. Matsuda said DIC and the administrators have decided to cancel the sale of the failed regional bank to an investment company led by U.S. financier Wilbur R. Ross.

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