Kleinwort Benson Management Bid Gets Support

LONDON (Reuters) – A number of City heavyweights are backing a management bid for Kleinwort Benson, a private bank being sold by Commerzbank AG (CBKG.DE), according to The Sunday Telegraph.

The newspaper names Vodafone (VOD.L) chairman John Bond and Rolls-Royce (RR.L) chairman Simon Robertson as among those backing a bid from management.

The bank, which traces its roots back to the 1850s, has attracted bids from more than 20 trade buyers and up to 10 private equity firms interested in backing a management buyout, sources told Reuters in May.

(Reporting by Paul Sandle; editing by Simon Jessop)