At least eight bidders have expressed an interest in buying Gartmore, the UK and US fund manager with a £1bn (€1.5bn) price tag.

Bankers said today that interested parties include Schroders, the UK-listed fund manager, which they think is most likely to acquire the business as a whole; French groups BNP Paribas, Axa and Société Générale; Lehman Brothers, the US bank; and UK fund managers Henderson, New Star Asset Management and Aberdeen Asset Management.