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Tuesday, March 10, 2015

Zalando backers to sell 7.3 percent in share placement, (NYSE: MS)

A group of early backers of German online fashion retailer Zalando is selling 7.3 percent of shares in the company in a placement, joint bookrunner Morgan Stanley said on Tuesday.Global Founders, Holtzbrinck Ventures, AI European Holdings and Rocket Internet will place up to 17.9 million shares in an accelerated bookbuilding, Morgan Stanley said.Global Founders is the investment vehicle of founder brothers Marc, Oliver and Alexander Samwer, through which they also hold 38 percent of Rocket Internet, run by Oliver Samwer.AI European Holdings is part of Ukrainian-American billionaire Len Blavatnik's conglomerate Access Industries.

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 2.27% or $-0.81/share to $34.86. In the past year, the shares have traded as low as $28.31 and as high as $39.19. On average, 10583900 shares of MS exchange hands on a given day and today's volume is recorded at 6630932.