Morgan Stanley (MS) Aims for Sale of Quilter Unit...for Second Time
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Morgan Stanley (NYSE: MS) is indicated higher Monday, following reports that it might be in discussions to sell its wealth management unit, Quilter.
According to Dow Jones, who is citing a person familiar with the situation on the info, Bridgepoint might be the counter party in talks for Quilter. This would be the second time in about 6 years that Morgan Stanley moved to sell the business. The last time was a deal with Citigroup (NYSE: C) in 2006, but got Quilter back when it decided to take a majority stake in Smith Barney in 2009.
Currently, Dow Jones reports that Quilter has about £7.6 billion in assets under management (AUM).
Morgan Stanley is moving lower pre-market Monday.
According to Dow Jones, who is citing a person familiar with the situation on the info, Bridgepoint might be the counter party in talks for Quilter. This would be the second time in about 6 years that Morgan Stanley moved to sell the business. The last time was a deal with Citigroup (NYSE: C) in 2006, but got Quilter back when it decided to take a majority stake in Smith Barney in 2009.
Currently, Dow Jones reports that Quilter has about £7.6 billion in assets under management (AUM).
Morgan Stanley is moving lower pre-market Monday.
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