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Morgan Stanley committed to selling physical oil busines -CFO
October 17, 2014 / 12:22 PM / in 3 years

Morgan Stanley committed to selling physical oil busines -CFO

NEW YORK, Oct 17 (Reuters) - Morgan Stanley Chief Financial Officer Ruth Porat said the bank is still committed to selling its physical oil business, even if its planned deal with Rosneft does not close.

In an interview with Reuters, Porat said ithe bank plans to consider alternative ways to divest the business if the Rosneft deal is unsuccessful.

Last week, Morgan Stanley said there is “no assurance” that transaction will close, citing a contractual requirement that all regulatory approvals must be received by year-end. (Reporting by Lauren Tara LaCapra Editing by W Simon)

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