BlackRock has confirmed that it is working closely with the Office of Fair Trading (OFT) and the Irish Competition Authority on its deal to buy the exchange traded fund (ETF) arm of Credit Suisse.
BlackRock reached an agreement to buy the ETF business in January but the two firms are still working through the deal.
If BlackRock does acquire the Credit Suisse business, it will control 47.5 per cent of the ETF market share in Europe.
Consultancy ETFGI told the Financial Times this month that Credit Suisse’s business had seen $1bn (£650m) in outflows since the deal was announced.
The ouflows have reduced the assets under management for Credit Suisse’s range of 56 ETFs from $17.6bn to $17.1bn at the end of the first quarter of 2013, it told the paper.
