PRESS DIGEST- New York Times business news - March 27
March 27 The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
Oct 12 Photo-sharing app Snapchat has chosen Morgan Stanley and Goldman Sachs Group Inc as lead bankers for its initial public offering, which could happen as soon as March, Bloomberg reported, citing people familiar with the matter.
The banks were notified of their role early this week, according to the report. (bloom.bg/2dSoglp)
Snapchat's parent is working on an initial public offering that could value the company at $25 billion or more, the Wall Street Journal reported last week.
JPMorgan Chase & Co, Deutsche Bank AG, Allen & Co, Barclays Plc and Credit Suisse Group AG will also be involved as joint book runners, Bloomberg reported on Wednesday.
Snapchat and the lead bankers were not immediately available for comment. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)
* Has close to 3 mln consumer banking clients in South Korea (Adds details on Citi wealth business in Asia, executive comments)
* Talks involve American Airlines taking stake in China Southern