26 agosto 2008 / 04:32 / tra 9 anni

Temasek says sees value in U.S. and UK banks

SINGAPORE (Reuters) - Singapore sovereign fund Temasek, which spent billions of dollars on shares in Merrill Lynch MER.N, sees value in banking stocks in the United States and Britain, a senior executive said on Tuesday.

<p>Temasek Holdings signs are seen before a media briefing at the holdings' headquarters in Singapore August 26, 2008. REUTERS/Tim Chong</p>

“The financial service industry is one we believe in,” said Manish Kejriwal, Temasek’s senior managing director for investment, International and India, told journalists. “It’s a proxy to the economic growth.”

“We recently concentrated on U.S. and UK primarily because we see value.”

Reporting by Saeed Azhar and Kevin Lim; Editing by Jan Dahinten

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