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E-Trade sells IL&FS Investsmart shares to HSBC



By AP
29 September 2008 @ 05:53 pm EST

NEW YORK - E-Trade Financial Corp. said Monday it has completed the sale of its shares in IL&FS Investsmart Ltd., an India-based financial services organization, to HSBC through subsidiary E-Trade Mauritius Ltd.

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The sale will bring in about $145 million in proceeds to E-Trade.

Shares closed down 85 cents, or 24.6 percent, at $2.60.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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