Charlie Gasparino Reporting That BlackRock Has Lined Up Buyers For BofA's Stake (BAC, BLK)

FOX Business Network's (FBN) Charlie Gasparino is reporting that Bank of America BAC is looking to unwind its shares in BlackRock because they are being pressured by the federal government to “basically break itself up or get smaller” and that BlackRock has already “found a mix of foreign and domestic investors.” Excerpts of the report can be found below courtesy of Fox Business Network. On the federal government leaning on Bank of America to get smaller: “What we have now is the federal government leaning on Bank of America to basically break itself up, get smaller because of all the problems it's facing.” On BlackRock already having foreign and domestic investors looking to purchase Bank of America's stake: “BlackRock is being sold out. And we foretold this last week when I told you that Larry Fink, the head of BlackRock was looking for buyers of BOA stake and from what I understand, he has found buyers. A mix of foreign and domestic investors looking to purchase shares when they do the secondary offering next week to unwind the stake and it's pretty interesting because these two guys didn't get along, but I'm told that this has nothing to do with them not liking each other but more to do with the fact that federal government is telling BOA.” On Bank of America looking to “unwind” all of their stock in BlackRock: “Interesting thing is that BOA stake in BlackRock could go down to 12% or it could go down to the full monty of zero, zero common owned stock. You know, I've talked to people and I think they are going to unwind it all.”