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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