According to Reuters, bids for the business have come in from BlackRock Inc. and State Street Corp.’s asset management arm, State Street Global Advisors.
However, a third firm is also in the fray, according to Financial Times.
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With 58 ETFs, Credit Suisse is the fourth-largest ETF provider in Europe, with 5.6% market share as 30 of September 2012, according to ETFGI, a London-based ETF research firm.
The first round of bids for the business was due in early October 2012, and the investment banking arm of Credit Suisse is representing its parent company on the deal.
BlackRock holds more than 40% of the European ETF market. It has 192 European iShares ETFs with US$126 billion in assets.
State Street’s 41 SPDR ETFs in Europe have US$3 billion in assets, making up 1% of the European market.
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By GlobalDataIf BlackRock acquires Credit Suisse’s ETF business, it would be firm’s second international ETF business buy, after having recently purchased Toronto-based Claymore Investments from Guggenheim Partners.
Spokespersons from Credit Suisse, BlackRock and State Street have declined to comment on the issue.
