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Merrill Lynch sells stake in Bloomberg

Published on .

New York—Financial services firm Merrill Lynch announced on Thursday that it has completed the sale of its 20% ownership stake in financial media company Bloomberg L.P. for $4.425 billion. It sold the stake to Bloomberg Inc. The announcement, which has been expected, came in the wake of Merrill Lynch’s reporting a second quarter net loss of $4.6 billion.
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