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Franklin rejects Morgan Stanley Canary bid

Franklin Mutual Advisers, which has a near 7% stake in Canary Wharf has confirmed that it will oppose Morgan Stanley's £1.56bn (€2.1bn) bid for the UK property developer.

Canary Wharf is in the centre of a bidding battle between Paul Reichmann, founder of UK property developer who has joined forces with Brascan Corporation of Canada against Morgan Stanley.

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