Chase Manhattan Corp.'s credit card business is not for sale, says a top executive, despite speculation that a significant investor might be out to break up the company's various business units.

The investor, Michael F. Price, president of Heine Securities Corp., recently acquired 6.1% of Chase's shares to become its largest stockholder. He has a history of targeting companies viewed as undervalued, and his investment ignited speculation about his intentions with Chase, one of the nation's top 10 credit card banks.

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