Tower's Silva Sees 'Considerable Writedowns' at Merrill
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Tower's Silva Sees 'Considerable Writedowns' at Merrill
Ralph Silva, research director at Tower Group Plc, talks with Bloomberg's Francine Lacqua and Mark Barton in London about the outlook for U.S. and U.K. banks, rights issues and the future of Merrill Lynch & Co.'s stakes in BlackRock Inc. and Bloomberg LP. Merrill the third-biggest U.S. securities firm, dropped efforts to sell a stake in BlackRock Inc. and struck a deal to sell its 20 percent share of Bloomberg LP, according to people familiar with the decision. Bloomberg LP is the parent of Bloomberg News. (Source: Bloomberg)
Bloomberg | July 17, 2008
