BlackRock Inc. (BLK) will buy Credit Suisse Group AG's (CS, CSGN.VX) European exchange-traded funds business, Reuters reported Wednesday, citing a source familiar with the situation.

The report said State Street Corp.'s (STT) State Street Global Advisors unit dropped out of the bidding last month.

Full story at http://www.reuters.com/article/2013/01/09/us-blackrock-creditsuisse-etfs-idUSBRE90810H20130109

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