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EU: Commission okays Morgan Stanley oil sale

 |  September 4, 2014

The European Commission announced Thursday that it has given clearance for Morgan Stanley to divest parts of its Global Oil Merchanting Unit to OJSC Oil Company Rosneft, reports say.

The Russian oil conglomerate will acquire parts of the Morgan Stanley business after EU authorities found that the overlaps between the two companies were minimal and not likely to raise competition concerns.

Financial details of the transaction were not reported.

Full content: Reuters

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