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Deals Today The latest Reuters articles on M&A, IPOs, hedge funds and more Broker Center sponsored links UPDATE 1-National City trying to sell money-management unit -WSJ (Adds details about Fifth Third and KeyCorp) NEW YORK, July 23 (Reuters) - National City Corp (NCC.N: ) is trying to sell its money-management unit, the Wall Street Journal reported in its online edition, citing people familiar with the matter. National City is working with Morgan Stanley to shop Allegiant Funds, which manages about $30 billion. Cleveland-based National City has large operations in Ohio, Michigan and Florida, all hard-hit by the nation's housing problems. The bank has lost money in three straight quarters due to its exposure to mortgage and home equity lending. In April, the regional bank raised $7 billion of capital from private equity firm... [read full story]
