LONDON: BlackRock aims to buy a 30 percent stake in Intesa SanPaolo’s asset management unit as it seeks greater influence over Italy’s second-largest fund house, sources familiar with the matter said.BlackRock, the world’s largest asset manager, is in talks with Intesa’s executives and is hoping to secure control of the stake in order to play a bigger role in Eurizon’s operations and its IT management, one of the sources said.
“BlackRock is the natural buyer for Eurizon,” he said. “They will take a stake and use it as a Trojan horse to plug in their IT systems and control the operational side of the business.”
The source said BlackRock sees the deal as a strategic stake acquisition rather than a passive investment. BlackRock and Intesa declined to comment.
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