Story perspectives
TD Bank to Sell $15.36 Billion Stake in Schwab
2/10/2025
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Story summary
- TD Bank Group intends to divest its 10.1% stake in Charles Schwab, worth $15.36 billion.
- This decision comes amid TD's forecast of a tough 2025 and ongoing U.S. money laundering fines.
- Schwab plans to buy back $1.5 billion in shares from TD, likely affecting its stock price.
- TD acquired its stake as the largest shareholder during the 2020 TD Ameritrade acquisition.
