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UK: OFT takes a closer look at investment corp acquisition

 |  April 16, 2013

The Office of Fair Trading has announced the initiation of an investigation into investment management corporation BlackRock and its buyout of Credit Suisse’s exchange traded fund business. According to reports, the OFT is currently in the process of contacting some of BlackRock’s exchange traded fund clients to gather insight on their opinion of the deal. BlackRock has announced it is full cooperating with authorities, including the Irish Competition Authority. The deal to buy the Swiss-based business was finalized earlier this year as BlackRock moved to increase its presence within Switzerland. Credit Suisse has a reported $17.6 billion in assets within 58 funds.

Full Content: City Wire

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