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Pru Closes Sale Of Wachovia Stake

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Prudential Financial Inc. has reached agreement with Wells Fargo & Company to sell its interest in Wachovia Securities to the bank.

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Wells Fargo, San Francisco, which took over Wachovia Corp. last year, has agreed to buy Prudential’s interest in their joint venture, a retail brokerage, for $4.5 billion in cash. The purchase includes Wells Fargo Advisors L.L.C.