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2014-09-05 18:15:00

ROSNEFT BUY MORGAN STANLEY

ROSNEFT BUY MORGAN STANLEY

The European Commission (EC) has allowed Russian state-owned oil company Rosneft to purchase an oil trading department of Morgan Stanley, EC said Thursday.

"The parties' activities overlap on various markets for oil and refined petroleum products, including fuel oil sales in the European Economic Area...The Commission concluded that the proposed acquisition would not raise competition concerns, because the overlaps are very limited and a number of strong players would remain in the market after the merger," EC said.

In 2013, Rosneft's unit signed a binding agreement with Morgan Stanley on purchasing an international…

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Tags: ROSNEFT, OIL, MORGAN, STANLEY, US
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