Sunday 17 May 2009 8:00 pm

BGI suitors aim to scupper CVC iShares deal

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FUND management firm Blackrock and Bank of New York Mellon are believed to have tabled bids for Barclays’ BGI unit, valued at around $10bn (£6.6bn).

The division is up for sale as part of a “go-shop” clause within an already agreed deal for BGI subsidiary iShares, due to be sold to private equity house CVC for £3bn.

Meanwhile, sources close to the bank scotched rumours that its investment bank, BarCap, was preparing to take over brokerage Execution.