Prudential Financial Inc. said it plans to sell its minority stake in Wachovia Securities to Wells Fargo & Co. and seek cash from the Treasury Department's rescue fund to rebuild capital.

The Newark, N.J., insurer said in a filing Thursday that it is exercising a previously granted right to sell its stake in the brokerage back to Wachovia, which is selling itself to Wells. The joint venture was formed in 2003, when Prudential combined its retail brokerage with Wachovia's in a cashless transaction.

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