Morgan Stanley close to sell commodity-unit stake to Qatar

Morgan Stanley, the sixth-largest U.S. bank by assets, is close to seal a $1 billion deal with the Qatar Investment Authority to sell its commodities business, CNBC reported Friday.

Quoting unidentified people familiar with theĀ matter, the news outlet said Morgan Stanley had held talks with private-equity firms including Blackstone Group LP, as it considers options for the unit if the Volcker rule outlaws some activities.

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