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Breaking News: Charlie Gasparino Reports Quattrone, Langone and Grasso May Be Forming Business Venture

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Frank Quattrone, former star investment banker was spotted this afternoon in the Midtown Manhattan offices of Invemed Securities, a brokerage firm run by billionoiare financier Ken Langone, where he met with Langone and former New York Stock Exchange Chairman Richard Grasso, CNBC 's Charlie Gasparino has learned. Later the trio had lunch at a local restaurant.

The spotting fueled speculation that the group will be forming a business venture, something that Langone seemed to confirm when he issued a statement that said that "when we're ready to announce our joint venture (CNBC) will be the first to know." Grasso didn't return telephone calls; a spokesman for Quattrone had no comment.

Unofficial transcript below. Please credit CNBC.

BARTIROMO: CHARLIE GASPARINO WAS THERE. WHO WAS THERE.

GASPARINO: I CALL IT SPAGHETTI WESTERN. DICK GRASSO FORMER CHAIRMAN. NEW YORK STOCK EXCHANGE. KEN LANGONE, FOUNDER OF HOME DEPOT AND NONE OTHER THAN FRANK QUATTRONE. STAR INVESTMENT BANKER WITH CSFB JUST FINISHED WITH HIS DEFERRED PROSECUTION AGREEMENT. MAKES HIM A FREE MAN. CAN DO EVERYTHING HE WANTS. THAT DEFERRED PROSECUTION AGREEMENT OVER THOSE CHARGES THAT WERE DROPPED. PEOPLE ARE WONDERING WHAT QUATTRONE CAN DO? WILL HE GO BACK TO THE SECURITIES INDUSTRY. THE SPECULATION AFTER THIS LITTLE LUNCH AND LANGONE WAS SPOTTED INSIDE LANGONE'S OFFICES INSIDE, QUATTRONE WAS SPOTTED INSIDE LANGONE'S OFFICES IN MIDTOWN MANHATTAN. HE MAY DO A DEAL WITH THEM. MADE BE A FUND THEY WILL CREATE. I PUT IN A CALL TO KEN LANGONE. HE PUT OUT THIS STATEMENT. WHEN WE'RE READY TO LAUNCH OUR JOINT EFFORT YOU WILL BE THE FIRST TO KNOW. KEN SEEMS TO BE CONFIRMING THEY'RE GOING TO DO SOMETHING. THIS MAY BE TONGUE-IN-CHEEK. I DON'T KNOW. IS HE REAL TONGUEINCHEEK GUY.

BARTIROMO: THAT SOUNDS LIKE HIM. FIRST TO KNOW.

GASPARINO: YOU WILL BE FIRST TO KNOW AFTER ME. HOW ABOUT THAT MARIA. MARIA I HEARD A WHILE BACK THEY WERE THINKING ABOUT DOING BUSINESS TOGETHER.

BARTIROMO: DO YOU THINK ITS A FUND.

GASPARINO: WHO KNOWS. KEN LETS FACE IT KEN LANGONE IS GREAT ENTREPRENEUR. DICK GRASSO FORMER CHAIRMAN OF THE NEW YORK STOCK EXCHANGE LOOKING WHAT TO DO NEXT. FRANK QUATTRONE CLEARLY ONE OF THE BEST BANKERS EVER WERE OUT THERE. COULD BE A FUND. PRIVATE EQUITY THING. YOU KNOW THEY MIGHT HAVE BEEN JUST HAVING LUNCH I DONT KNOW. WHEN I FIND OUT IM COMING BACK ON THE AIR.




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