Asset management giant BlackRock Inc. is talking with Barclays Bank plc about buying its Barclays Global Investors business, the U.S. investement group said Monday.

Back in April, Barclays agreed to sell its iShares business, which is part of BGI, for US$4.4 billion to CVC Capital Partners SICAV-FIS S.A. Today, the firm reported that it has since had competing offers for both the iShares unit, and the entire BGI business, including iShares.

“In assessing such proposals, Barclays has had discussions with a number of parties, including with BlackRock, about both iShares and BGI,” it said today. “The discussions are not yet concluded and there are a number of significant open issues which could affect the nature and terms of any transaction.”

BlackRock also confirmed the talks, adding, “The negotiations are ongoing and there is no certainty that any transaction will be agreed upon or, if agreed upon, completed.”

Barclays said that it will update the market further upon the conclusion of the “go-shop” process it agreed with CVC by June 19. “There is no certainty that these discussions will result in Barclays concluding a different transaction than that announced on April 9 with CVC regarding iShares,” it noted.

IE