Circuit City cites concern about financing of bid

ATLANTA (Reuters) - Retailer Circuit City Stores Inc (CC.N: Quote, Profile, Research, Stock Buzz) on Monday confirmed that it had received an unsolicited bid from Blockbuster Inc (BBI.N: Quote, Profile, Research, Stock Buzz) but said the movie-rental company has been unable to satisfy concerns that it could finance the proposed deal.

Circuit City said it had other concerns regarding Blockbuster's ability to complete the deal and added while it was open to having further talks, it was unwilling to participate in due diligence with the movie company.

(Reporting by Karen Jacobs, editing by Gerald E. McCormick)