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Santander interested in AIG's E.Europe bank -paper

Fri Mar 6, 2009 3:57am EST

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WARSAW, March 6 (Reuters) - Spain's largest bank, Santander (SAN.MC), is among potential bidders for the Polish banking arm of the troubled insurer American International Group (AIG.N), a Polish daily reported on Friday, citing an unnamed source.

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AIG's Polish bank is among non-core assets put up for sale after the insurance giant avoided bankruptcy last year thanks to a U.S. government bailout.

"Spain's Santander is also standing in the queue for AIG Bank Polska," Rzeczpospolita daily daily quoted an unnamed souce close to the talks as saying.

Poland's top bank PKO BP PKOB.WA has already said it was interested in AIG's banking assets in the European Union's largest ex-communist nation.

A Santander spokesman declined to comment.

Analysts value the deal at up to $270 million, Rzeczpospolita said. (Reporting by Adrian Krajewski; Additional reporting Sonya Dowsett in Madrid, editing by Will Waterman) ($1=3.740 Zloty)

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