MetLife says in talks to buy BBVA's Chilean pension unit
(Reuters) - MetLife Inc (MET.N), the biggest U.S. life insurer, said it was in talks with Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) (BBVA) to buy 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.
(Reporting by Aman Shah in Bangalore; Editing by Ted Kerr)
NEW YORK - U.S. stocks edged modestly lower on Monday, and the S&P 500 held near record highs, as investors largely shrugged off unexpectedly weak data in China. | Video
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.