AHN
5 Jul 2008
New York, NY (AHN) - Merrill Lynch is looking to sell its 20 percent stake in financial news and data provider Bloomberg LP to a blind trust controlled by New York City Mayor Michael Bloomberg, The New York Post reported on Friday.
Last quarter, Merrill Lynch CEO John Thain said the company would look to sell assets in order to raise capital. The investment back has since sold off its Chicago Merrill Lynch Capital unit to General Electric for $1.3 billion. New shares of the company were also sold to Temasek Holdings, raising an additional $5 billion.
>>>> More
