Citi (C) Confirms Talks With Morgan Stanley (MS) On Brokerage Combo
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Citi (NYSE: C) confirmed that the company is in discussions with Morgan Stanley (NYSE: MS) concerning a possible combination of the retail brokerage business operated under the Smith Barney name and the wealth management business operated by Morgan Stanley.
Citi said no definitive agreement has been reached, and no assurance can be given that any such agreement will be reached. Beyond this statement, Citi has no further comment at this time.
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