Who will get iShares? |
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| Economy | |
| Written by Gary Howes and Sharecast | |
| Friday, 15 May 2009 | |
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Morning Business News, Friday 15th May: Barclays, Vodafone, Lord Myners and Chrysler.
The Barclays (LON:BARC) iShares deal - originally involving CVC Partners - appears to be uncertain as the UK bank looks to sell its entire asset management division. Various media sources this morning report that BlacRock and New York Mellon are potential buyers. “Barclays deliberately structured the deal with a go-shop clause” to attract additional bidders, Simon Maughan, an analyst at MF Global Securities Ltd. in London, who has a “neutral” rating on Barclays stock, said on May 11. Officials at San Francisco-based BGI, New York-based BlackRock and BNY Mellon declined to comment. The Financial Times, which reported the talks earlier, said BGI may sell for about $10 billion. Other Business News in Brief VodafoneVodafone made the first move in an expected price war between mobile phone companies by abolishing roaming charges for British customers travelling in Europe. Under the terms of the three-month deal beginning on June 1, Vodafone’s customers will be able to call and text phones in Britain from 35 European countries for the price they would be charged in Britain, reports the Times. Lord MynersLord Myners has been described as "naive" by a parliamentary committee for failing to ensure that Sir Fred Goodwin was fired rather than paid off with a £17m pension by the Royal Bank of Scotland. According to a hard-hitting report on City pay by the Treasury Select Committee – which is investigating the banking crisis – the financial services secretary was "naive" in his handling of the departure of the former bank boss, reports the Telegraph. ChryslerChrysler, the beleaguered US car maker, is to close a quarter of its 3,200 dealerships as it battles to restructure amid Chapter 11 bankruptcy. A statement from the US Treasury said the closures were "necessary for this company and the industry to succeed" but that President Barack Obama's automotive task force "played no role" in deciding which or how many dealers would close, the Telegraph reports.
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