CNBC: Merrill Lynch In Talks To Sell Bloomberg Stake
It looks like Merrill Lynch (MER) really does want to unload its 20% stake in Bloomberg LP. CNBC's Charles Gasparino reports the bank is in "preliminary talks" to sell its shares ... to Bloomberg, which has right of first refusal. Merrill CEO John Thain puts the value of the stake at $5 to $6 billion. Bloomberg? Well, they're thinking more like $3 billion.
Last spring, Goldman Sachs predicted Merrill would need to raise another $5-$10 billion to make up for the $30 billion or so it blew gambling on mortgages.
See Also:
Goldman: Merrill May Sell Bloomberg Stake To Raise Cash
Merrill Takes Another $9 Billion In Gambling Losses, Firing 4,000 People Not Responsible




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