Morgan Stanley in talks to sell majority of commodity business - FT

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Oct 3 (Reuters) - Morgan Stanley is in talks to sella majority stake in its commodities business to the QatarInvestment Authority, the Financial Times said, quoting peoplefamiliar with the

deal.

The investment bank had for the past few months been tryingto sell a minority stake in the commodity business, whichspecialises in trading oil, gas and electricity.

A Morgan Stanley spokeswoman declined to comment on thereport.

The FT said selling the commodities business to Qatar'ssovereign wealth fund would allow traders in that unit tocontinue trading for their own books, which will be banned forbanks under

upcoming U.S. regulations such as the Volcker rule.

Morgan Stanley and Goldman Sachs Group Inc were theleading commodity trading firms on Wall Street in the twodecades preceding the financial crisis. Morgan Stanley'scommodities trading

revenue dropped nearly 60 percent from 2009to 2011.

(Reporting by Avik Das in Bangalore; Editing by MichaelUrquhart)

(([email protected])(within U.S. +1 646 2238780)(outside U.S. +91 80 4135 5800)(Reuters Messaging:[email protected]))

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