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Merrill Lynch(MER Quote) is expected to announce an up to $5 billion deal to sell its minority stake in Bloomberg LP back to the financial information provider, according to various media reports.
Merrill, which reports results Thursday after the bell, holds a 20% interest in Bloomberg. The firm has been under pressure to raise capital amid writedowns to securities and derivatives tied to the flagging mortgage market. The Bloomberg sale was first reported by CNBC.
The cable outlet said Merrill did not plan to sell its 49% stake in investment management firm BlackRock(BLK Quote). ...
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