and his team are buying up some of Barclays
] shares at a nine percent discount compared to last week.
On Monday MFWire reported
that the British bank would sell its $6.1 billion stake in the world's largest asset manager, with $1 billion of those shares going back to BlackRock and the rest, save some for the underwriters, going on the open market.
that Barclays will sell 26.2 million BlackRock shares for $160 each on the open market, while selling 6.4 million shares to BlackRock for $1 billion, which works out to $156.25 per share. That compares to the $172 closing price from Friday and the $167.50 price from yesterday.
Neil Anderson, Managing Editor
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