Reuters reports that Morgan Stanley has been in discussion for more than a year with Qatar over the sale of at least a majority stake in the energy-focused trading business, its sources say.
'There have been some differences, and Qatar is a bit lukewarm about it', one source said. 'It's not dead yet but definitely not imminent'.
Hit the link below to access the complete Reuters article:
Morgan Stanley commodities talks with Qatar hit snag
In the meantime, Bloomberg reports that a federal appeals court in Manhattan upheld a ruling against Morgan Stanley in a breach-of-contract suit accusing it of failing to pay a Citigroup unit $245m under a swap agreement.
Citibank NA arranged the swap for protection in the event that a collateralized debt obligation based on a line of credit provided to an entity called Capmark defaulted, according to the ruling earlier this week.
Hit the link below to access the complete Bloomberg article:
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