Morgan Stanley In Talks To Sell Majority Of Commodity Business-Reuters

Reuters reported that Morgan Stanley is in talks to sell a majority stake in its commodities business to the Qatar Investment Authority, the Financial Times reported. The investment bank had for the past few months been trying to sell a minority stake in the commodity business, which specialises in trading oil, gas and electricity. The FT said selling the commodities business to Qatar’s sovereign wealth fund would allow traders in that unit to continue trading for their own books, which will be banned for banks under upcoming U.S. regulations such as the Volcker rule.