U.S. conglomerate General Electric Co (GE) has sold about a $466 million stake in Thailand's Bank of Ayudhya in a block trade, a source with direct knowledge of the matter told Reuters on Wednesday. GE sold the shares at 31.30 Thai baht per share, the source added, representing a 5.9 percent discount to the firm's Tuesday closing price.GE had hired Morgan Stanley for a strategic review of its 32.9 percent holding in Bank of Ayudhya, sources told Reuters last week.GE and Bank of Ayudhya could not be reached for comments immediately. The source declined to be identified as the details of the sale were not public yet.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 2.58% or $-0.44/share to $16.60. In the past year, the shares have traded as low as $11.58 and as high as $21.19. On average, 22696800 shares of MS exchange hands on a given day and today's volume is recorded at 20499640.
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