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Posted AT 2:09 PM EST on 04/07/08

Merrill near sale of Bloomberg stake: report

Reuters

NEW YORK — Merrill Lynch & Co. may sell its 20 per cent 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 Friday. Details about the terms of a sale remain sketchy, the Post said, and sources warned that a deal could still fall apart. The sale is part of a broader plan by cash-strapped Merrill to raise about $50-billion (U.S.

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