...the fun continues..... http://www.reuters.com/article/marketsNews/idINBNG39091220090203?rpc=44 UBS eyes joint venture with Wachovia Securities-NY Post Tue Feb 3, 2009 5:35am EST Feb 3 (Reuters) - Swiss bank UBS AG (UBSN.VX) (UBS.N) has held preliminary talks with Wells Fargo & Co's (WFC.N) Wachovia Securities about forging a joint venture of the pair's North American wealth-management units, the New York Post reported. It is unclear at what stage the discussions are in, or exactly what form a joint venture might take, the paper said on Tuesday citing sources. One source told the paper a deal might never materialize. If an agreement is reached, it could enable UBS to cut costs at its U.S. wealth-management unit, the paper said. A UBS spokesman declined to comment. Wachovia Securities could not be immediately reached for comment. Wachovia, which was hobbled by mortgage-related losses and write-downs last year, was scooped up by Wells Fargo on Jan. 1. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Jon Loades-Carter) © Thomson Reuters 2009 All rights reserved