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Bank of America Gets Rid of Blackrock Stake

Wednesday, 3 Nov 2010 | 12:57 PM ET

Bank of America will be selling most of it's Blackrock stake, reducing it's stake to 12.6 percent from 33.9 percent, according to an offering document, Reuters reports.

A BofA spokesman said the move was part of the bank's plan to sell "non-core assets" and focus on their lending business. » Read More at CNBC.com

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