Schroders in talks for stake in Axis AMC - report

Schroders Plc is in talks to acquire an almost 30% stake in India's Axis Asset Management in a deal worth around Rs 130 crore, two newspapers reported on Wednesday citing unnamed sources.

A senior management team from the London-listed company, which manages assets worth around USD 290 billion, will visit Mumbai next week to finalise the deal with the mutual fund founded by Axis Bank, the Business Standard reported.
A spokesman for Axis or Schroders could not be reached by Reuters.
The acquisition would allow Schroders to sell its products in India, and grant Axis access to the London-listed company's global network.
Schroders had applied to Indian regulators for permission to set up a mutual fund business and received a license last year, the Economic Times said.