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A deal in Principal for BT

Friday 18th of June 1999
A deal consummating the sale of BT Funds Management to US-based Principal Financial Group is expected to be announced later today.

Under the arrangement Principal will keep BT's A$40 billion funds management business in Australia and New Zealand and it will on-sell BT's investment banking operation to Macquarie.

The funds management deal is being portr...

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