PNC Sells Its Roughly $17 Billion Stake in BlackRock
PNC Financial Services Group (NYSE: PNC) is selling its stake in BlackRock (NYSE: BLK), the world's largest asset manager with about $6.5 trillion in assets under management. PNC bought into BlackRock for $240 million in 1995, and with its 22.4% ownership stake (34.8 million shares), it's the company's largest shareholder.