What will Bank of America do with BlackRock stake?

Bank of America has some interesting assets it could sell as it moves toward paying back its TARP funds. One of which is a 34 percent stake in BlackRock, the big asset manager. Recall that it inherited the stake from Merrill Lynch.

Some though it might end up on the auction block, but now that BlackRock has bought Barclays Global Investors, some think Bank of America would be wise to hold onto it. "It's a huge chunk of a huge manager," one analyst told Reuters. "It would probably be the last deck chair that gets thrown overboard."

It may also prove difficult to value and sell right now. The combined company is now about twice as large. Bank of America's equity investment in BlackRock contributed $65 million to earnings during the first quarter, Reuters notes. 

For more:
- here's the article

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