is expected to announce an up to $5 billion deal to sell its minority stake in
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
The cable outlet said Merrill did not plan to sell its 49% stake in investment management firm
Analysts polled by Thomson Reuters expect Merrill to post a loss of $1.91 a share.
Merrill shares closed Wednesday's regular session up 13.4% to $28, buoyed by a rally in the financial sector spurred by a dividend boost from
In recent after-hours action, Merrill shares were losing 1.3% to $27.65.
This article was written by a staff member of TheStreet.com.