Barclays and CVC in exclusive talks over iShares

The ETF business could go for £3bn, less than the anticipated £4bn sources expected bidders to offer last week. The sale is not expected to include the securities lending business of iShares parent company Barclays Global Investors, the source said. Barclays will retain a 20% exposure through warrants. Barclays spokeswoman Sarah MacDonald declined to comment while officials at CVC could not be immediately reached. Other bidders had included a consortium led by US private equity firm Hellman & Friedman including Apax Partners and separately, private equity investor Bain Capital. Goldma...