STT State Street Corporation

Goldman Sachs Group Inc. (GS) is in "late stage" discussions with State Street Corp. (STT) over the sale of its hedge fund administration business, the Financial Times reported on its website Sunday, citing people familiar with the sale.

The tie-up would create the largest administration services provider to hedge funds worldwide, with combined funds under administration of nearly $700 billion, the FT reported.

Goldman Sachs declined to comment, the FT said.

Full story: http://www.ft.com/intl/cms/s/0/6befe4b6-b2f5-11e1-83a9-00144feabdc0.html#axzz1xQsOA0Nt