Novartis discussing Roche stake sale, but not imminent: sources

April 25, 2016 8:50 AM

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Novartis discussing Roche stake sale, but not imminent: sources

LONDON/ZURICH Novartis (NOVN.S) is discussing options with banks for selling its 13.5 billion Swiss franc ($13.8 billion) stake in rival Roche (ROG.S), though a sale is not imminent, according to two people familiar with the situation.

"Sooner or later the stake will be sold and Novartis is talking to banks about how it could be done. But nothing is imminent," one source said. He added that an order book process with selected investors would probably be the "cleanest" process.

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