Morgan Stanley does not believe new U.S. sanctions on Russian oil company Rosneft will affect a pending deal between the two companies, the bank's chief financial officer said on Thursday.Morgan Stanley management is moving ahead with plans to sell the majority of its global physical oil trading operations to Rosneft later this year, CFO Ruth Porat said in an interview."Recognizing the guidance was just released last night, we don't believe it applies to our transaction," she said. "We continue to do all the work necessary for closing by the end of the year, obviously subject to regulatory approval."Morgan Stanley agreed to sell the majority of its global physical oil trading operations to Rosneft in December, before Russia launched an incursion into Ukraine's Crimean peninsula.
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 traded higher by 1.94% or $0.6319/share to $33.13. In the past year, the shares have traded as low as $25.25 and as high as $33.52. On average, 9976010 shares of MS exchange hands on a given day and today's volume is recorded at 4789973.
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