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Tuesday, February 26, 2013

Nordea hires BofA to sell its Polish unit -report, (NYSE: BAC)

Nordea has hired Bank of America Merrill Lynch to advise it on the sale of Nordea Bank Polska, a Polish local newspaper reported on Tuesday, citing unnamed sources close to the deal. Dziennik Gazeta Prawna said Bank of America has sent invitations to Poland's top lender, PKO BP, Unicredit's Polish unit Bank Pekao, and BNP Paribas .The daily also said that PKO has hired Barclays as an adviser."We can't comment on speculation or rumours," Erik Durhan, Nordea spokesman told Reuters. PKO BP was unavailable for comment, but the bank said last week it was considering buying a domestic rival.Nordea Bank Polska has a market capitalisation of $426 million. Its share fell around 30 percent last year.

Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 3.58% or $-0.41/share to $11.03. In the past year, the shares have traded as low as $6.72 and as high as $12.42. On average, 165846000 shares of BAC exchange hands on a given day and today's volume is recorded at 206894704.