MetLife Inc, the biggest U.S. life insurer, said it was in talks with Banco Bilbao Vizcaya Argentaria SA (BBVA) to purchase the Spanish bank's Chilean pension fund business. MetLife said no agreement had been reached to buy AFP Provida SA, the largest private pension fund in Chile.Bloomberg first reported the talks last month, putting a value of more than $2 billion on the business.BBVA, Spain's No.2 bank, said last May it might sell its Latin American pension fund businesses as it looks to shed operations outside its main markets to reduce risks and meet tougher capital rules.MetLife shares closed at $37.72 on Tuesday on the New York Stock Exchange.
Banco Bilbao Vizcaya Argentaria SA (BBVA) is a Spain-based international financial group with presence in 32 countries. Shares of BBVA fell by 0.57% or $-0.06/share to $10.40. In the past year, the shares have traded as low as $5.30 and as high as $10.57. On average, 795853 shares of BBVA exchange hands on a given day and today's volume is recorded at 706107.
MetLife, Inc. (MetLife), is a provider of insurance, annuities and employee benefit programs. Shares of MET traded higher by 0.24% or $0.09/share to $37.72. In the past year, the shares have traded as low as $27.60 and as high as $39.55. On average, 10249700 shares of MET exchange hands on a given day and today's volume is recorded at 5820879.
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