Itau Close to Buying Citigroup's Brazilian Consumer Banking Business

itau close to buying citigroup's brazilian consumer banking business

Recent News Source: The Wall Street Journal Post Date: 10/05/2016

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10/05/2016 SÃO PAULO—Brazilian banking giant Itau Unibanco Holding SA is in advanced talks to acquire Citigroup Inc.’s consumer-banking operations in Brazil, according to three people close to the talks.
Itau and Citibank are holding exclusive talks, said one person, who noted that a deal could be reached and announced in the next few days or weeks. The person did not describe a possible price.