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BREAKING NEWS FROM CNBC’S KATE KELLY: MORGAN STANLEY MAY SELL PIECE OF COMMODITIES UNIT

When: Today, Wednesday, June 6th

Where: CNBC’s “Squawk Box

Following is the unofficial transcript of breaking news from CNBC’s Kate Kelly. All references must be sourced to CNBC.

Additionally, here is a link to Kelly’s story on CNBC.com: http://www.cnbc.com/id/47679809.

KATE KELLY: THANKS SO MUCH ANDREW. SO MORGAN STANLEY, AFTER A LOT OF CONSIDERATION AND A LOOK AT THE NEW REGULATORY LANDSCAPE THEY ARE FINDING THEMSELVES IN IS APPARENTLY CONSIDERING A PARTIAL SALE OF ITS COMMODITIES UNIT. THEY MAY WANT TO BRING ON A MINORITY INVESTOR TO THIS UNIT, LONG ONE OF THEIR STRONG SUITS A VERY BIG MONEY MAKER WITHIN RECENT YEARS, ALTHOUGH IN THE LAST COUPLE OF YEARS THE PACE OF THAT HAS SLOWED A LITTLE BIT, BUT THEY’VE HELD TALKS WITH A VARIETY OF PARTIES SO FAR THIS YEAR. I AM TOLD THE TALKS ARE VERY EARLY STAGE, NO DEAL IS IMMINENT BUT AMONG OTHER PARTIES THEY HAVE TALKED TO THE BLACKSTONE GROUP ABOUT THE POSSIBILITY OF SOME SORT OF INVESTMENT AND THEY’VE ALSO TALKED ABOUT THE POSSIBILITY OF SELLING THE WHOLE UNIT ALTHOUGH I AM TOLD THEY ARE NOT LEANING TOWARD THAT EVENTUALITY RIGHT NOW YOU GUYS. SO THEY ARE LOOKING AT A MINORITY INVESTMENT. THIS IS A UNIT THAT HAS MADE ANYWHERE FROM ONE TO THREE BILLION IN THE LAST FIVE TO TEN YEARS. COULD BE WORTH BILLIONS BUT IT IS UNCLEAR WHAT THEY ARE GOING TO DO WITH IT.
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