Japan's SMFG considers raising stake in Jefferies to about 20%, Bloomberg News reports
ReutersSep 18, 2025 1:53 PM
Sept 18 (Reuters) - Japan's Sumitomo Mitsui Financial Group Inc 8316.T is considering increasing its stake in U.S. investment bank Jefferies JEF.N to about 20%, Bloomberg News reported on Thursday.
Sumitomo Mitsui is in talks to boost its roughly 15% stake in the New York-based bank, potentially by acquiring preferred stock, the report said, citing people familiar with the matter.
Jefferies shares rose 5% in early trading in New York on the news.
The two firms are also in discussions to merge parts of their equities businesses in Japan, potentially through the establishment of a joint venture, the Bloomberg report added.
Reuters could not independently verify the report. Jefferies did not immediately respond to Reuters' request for comment.
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