Morgan Stanley owns 16 pc stake in Zynga

NEW YORK, USA: Morgan Stanley owns a 16 per cent stake in social-gaming company Zynga (ZNGA.O), according to a regulatory filing by the bank late on Friday.

Morgan Stanley holds more than 16 million Zynga shares, the filing said. The stock is owned by Morgan Stanley Investment Management, an asset-management subsidiary of the firm, the filing added.

Online game developer Zynga recently released a new mobile word game called 'Scramble with Friends' to expand its user base beyond Facebook and catch up with rivals in the handheld market.