The ambitions of Kremlin-controlled oil champion Rosneft to boost its global reach have been reined in by U.S. authorities, which torpedoed its acquisition of a Morgan Stanley oil trading business.Rosneft, headed by Igor Sechin, a long-standing ally of Russian President Vladimir Putin, said on Monday that the deal was terminated because of the refusal by U.S. regulators to grant clearance."Having invested substantial efforts in the deal, the parties regret that it could not be completed," said Rosneft, in which BP holds a 20 percent stake.Morgan Stanley also said that the deal was terminated and that it will now consider a variety of options.
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 1.01% or $-0.39/share to $38.12. In the past year, the shares have traded as low as $28.31 and as high as $38.63. On average, 10132700 shares of MS exchange hands on a given day and today's volume is recorded at 2965427.
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