StanChart's crypto unit in talks to buy Alan Howard-backed firm, Bloomberg reports
Changes media packaging code to ELWOOD CAPITAL-M&A/STANDARD CHARTERED from STANDARD CHARTERED-M&A/, adds response from companies in last paragraph
July 9 (Reuters) -Standard Chartered Plc's 2888.HK, STAN.L crypto unit, Zodia Markets, is in talks to acquire billionaire hedge fund manager Alan Howard-backed Elwood Capital Management's OTC business, Bloomberg News reported on Tuesday.
The acquisition of Elwood Capital would enable Zodia Markets to expand its focus on OTC settlement services in the British Channel Island of Jersey by obtaining essential licenses, the report said, citing people with knowledge of the matter.
Spokespeople for Zodia Markets and Elwood declined to comment when contacted by Reuters.
Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Maju Samuel
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