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Last week, the structured products business went into administration and since then as many as 40 firms have shown an interest in acquiring the Keydata business. (See article.)

Contenders for the business include Jubilee Financial Products and Meteor Asset Management, with Morgan Stanley and Premier Asset Management also thought to be interested in the business. (See related article.)

A PwC spokeswoman said: "The deadline for bids was this morning and we have a handful of bids."

She, however, declined to give an exact number of firms interested or the names of the parties involved, but confirmed it had been narrowed down to a "small amount".

She added: "We are working through the bids now but don’t expect any announcements today."

According to PwC, those firms that have made the short-list are those that are interested in acquiring the business as a whole. It was thought some parties were only interested in acquiring parts of the Keydata business. (See article.)

She added: "It’s looking positive for the outcome. The aim is to sell the business as a going concern."

PwC intends to wrap up the sale of the business by the end of this week.

Click here for more on Keydata.