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Merrill said in talks to sell Bloomberg stake to NYC Mayor

LONDON (MarketWatch) — Merrill Lynch is in talks to sell its stake in financial news service Bloomberg to a blind trust run by New York City Mayor Michael Bloomberg, according to a report in The New York Post, citing unnamed sources. The sale is part of a broader plan by cash-strapped Merrill to raise approximately $50 billion through an array of asset sales, the newspaper reported, citing bankers who have looked at marketing materials. The two sides are in active negotiations, sources said. Merrill also is working on selling its 49% stake in BlackRock and looking at ways to shore up its balance sheet.

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More @ DollarDrops.com:Northern Foods first half profit halves, sales up 3%

UPDATE:Daily Mail & General Trust profit falls 51%, sales up

HMV […]

Original post by Forextvblog

This entry was posted on Friday, July 4th, 2008 at 2:16 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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