Credit Suisse has put its $17 billion exchange traded fund business on the block, according to media reports.
BlackRock’s iShares and State Street Global Advisors, the two largest ETF providers, are among the bidders, Reuters reports.
The first round of bids was due in early October, according to the story.
A third unnamed buyer is thought to have tabled an offer, the Financial Times reports.
Credit Suisse is the fifth-largest ETF provider in Europe with 58 products and assets of $17.2 billion, according to BlackRock research.
“Buying Credit Suisse’s ETF operations would make strategic sense for State Street, which has lacked a meaningful presence in the European market even though it is the second-largest ETF player globally,” the Financial Times reported.
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