UBS gets regulatory approval to fully own China securities joint venture

BEIJING (Reuters) - China's securities regulator has approved UBS's plan to become the sole shareholder of UBS Securities, the Swiss bank said in a statement on Friday.

UBS will acquire an additional 33% stake in UBS Securities from China's Beijing State-owned Assets Management and raise its stake to 100%, the bank said.

(Reporting by Ethan Wang, Yukun Zhang and Ryan Woo. Editing by Mark Potter)