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Morgan Stanley clinches deal

Morgan Stan-ley and Citigroup have settled a dispute over the value of their jointly owned brokerage firm Morgan Stanley Smith Barney, clearing the way for Morgan Stanley to buy Citigroup's 49 per cent interest in the broker and take full ownership.

Morgan Stan-ley and Citigroup have settled a dispute over the value of their jointly owned brokerage firm Morgan Stanley Smith Barney, clearing the way for Morgan Stanley to buy Citigroup's 49 per cent interest in the broker and take full ownership. It will also result in a $2.9 billion after-tax charge for Citigroup. -