Chile's CorpBanca says gets merger bids; big holder to keep stake

Thursday, 12 Dec 2013 | 7:15 AM ET

SANTIAGO, Dec 12 (Reuters) - Chilean bank and takeover target CorpBanca confirmed on Thursday it had received merger offers from "recognized" banking operators.

CorpBanca did not disclose the names of the bidders, but said in a statement that no agreement had yet been reached. It also said billionaire Alvaro Saieh, who owns a controlling stake in the bank, would "maintain a relevant shareholding and management control."

Last week, Reuters reported CorpBanca was close to a sale and that Brazil's Itau Unibanco Holding SA and Spain's Banco Bilbao Vizcaya Argentaria were the frontrunners.

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