Advertisement
UK markets closed

  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     

  • FTSE 250

    20,645.38
    +114.08 (+0.56%)
     

  • AIM

    789.87
    +6.17 (+0.79%)
     

  • GBP/EUR

    1.1622
    +0.0011 (+0.09%)
     

  • GBP/USD

    1.2525
    +0.0001 (+0.01%)
     

  • Bitcoin GBP

    48,482.10
    -1,654.06 (-3.30%)
     

  • CMC Crypto 200

    1,261.19
    -96.82 (-7.13%)
     

  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     

  • DOW

    39,512.84
    +125.08 (+0.32%)
     

  • CRUDE OIL

    78.20
    -1.06 (-1.34%)
     

  • GOLD FUTURES

    2,366.90
    +26.60 (+1.14%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • HANG SENG

    18,963.68
    +425.87 (+2.30%)
     

  • DAX

    18,772.85
    +86.25 (+0.46%)
     

  • CAC 40

    8,219.14
    +31.49 (+0.38%)
     
MONEY:

Best savings accounts that offer above inflation rates

How to earn the most interest on your savings

UniCredit seen picking talks partner for Pioneer towards end-Sept-sources

Reuters - UK Focus

LONDON/MILAN, Sept 17 (Reuters) - UniCredit (Milan: UCG.MI - news) , Italy's biggest bank by assets, is expected to pick a partner for exclusive talks to buy a stake of up to 50 percent in its asset management division Pioneer towards the end of September, two sources familiar with the matter said.

The sources said on Wednesday Spanish bank Santander and a consortium comprising private equity fund CVC (Taiwan OTC: 4744.TWO - news) Capital Partners and Singapore sovereign fund GIC were the two strongest contenders, even though U.S. fund Advent is also in the frame.

At least one of the proposals values the whole of Pioneer at around 2.4 billion-2.7 billion euros($3.5 billion), or 9-10 times EBITDA of 270 million euros, one of the sources said. (1 US dollar = 0.7718 euro) (Reporting by Pamela Barbaglia and Gianluca Semeraro, writing by Silvia Aloisi)