StateStreet [profile] has halted its bid for Credit Suisse's $17.34 billion European exchange-traded fund unit, according to Reuters.

As first reported by Reuters, BlackRock Inc and State Street Global Advisors, the money management arm of State Street Corp, were among the first round of bidders for Credit Suisse's European ETF business in early October.

BlackRock is still looking at the business. It could not be determined if other bidders are competing with BlackRock, according to the sources, who declined to be named because the talks are confidential.

Credit Suisse's decision to sell its ETF business comes as the company is closing or reducing other parts of its business to raise capital to meet new regulatory requirements.

For more on the story, go to Reuters. 

Edited by: Tommy Fernandez


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