DeAM to set strict criteria for sale

At least 15 potential buyers of Deutsche Asset Management's UK business will be considered by chief executive Kevin Parker before he makes a final sale-or-salvage decision next month, according to sources close to the deal.

The preferred bidders for the UK fund manager will be chosen on their proposals to buy the business as a whole and a commitment not to break it up or make large numbers of staff redundant, the sources said.

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