Barclays to profit from sale of Blackrock stake

Barclays is to sell its near one-fifth stake in the world's biggest asset manager, US firm Blackrock.

Barclays is to sell its near one-fifth stake in the world's biggest asset manager, US firm Blackrock.

Barclays currently holds BlackRock common stock and Series B convertible participating preferred stock which together represent a 19.6% economic ownership interest in BlackRock. The Series B stock automatically converts into common stock upon a sale.

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