JP Morgan Chase Slashes Stake InMasterCard

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NEW YORK - (07/19/06) – JP Morgan Chase, the largestshareholder of MasterCard International, reported it tendered halfof its Class B shares back to the cards company, as part of theyear’s biggest initial public offering. As a result, thebanking giant now holds 5.7 million non-voting Class B shares, a4.25% stake, which are restricted from sale for four years,according to a filing with the Securities and Exchange Commission.JP Morgan had owned a 10.5% stake in the cards company. The otherlarge bank-owners of MasterCard, including Citibank, Bank ofAmerica and HSBC, are also expected to report a tender of theirshares.

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