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Friday, January 28, 2011

Brazil's PanAmericano, rivals in talks over sale

Banco PanAmericano (BPNM4.SA), the Brazilian lender that was bailed out in November, is currently holding talks with rivals over a possible sale, according to a securities filing on Friday. There is no definitive outcome about the sale at the moment, the filing, signed by investor relations director Celso Zanin, said. The bank has yet to have a definitive estimate of the losses that triggered the bailout, the filing said. (Reporting by Guillermo Parra-Bernal, editing by Gerald E. McCormick)

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