ROME Oct 15 Italy's biggest bank UniCredit
said on Saturday it was in talks with Polish insurer
PZU and development fund Polski Fundusz Rozwoju about
selling its Bank Pekao unit, but there was no certainty
these would lead to a deal.
UniCredit's new chief executive Jean-Pierre Mustier launched
a strategic in-depth review in July in an attempt to boost the
bank's capital and improve profitability.
In a separate statement on Saturday, state-run PZU said it
had started negotiations with the Italian bank over buying Bank
The Wall Street Journal reported on Friday that PZU and
UniCredit had agreed on key aspects of the deal, including an
11-billion-zloty ($2.88 billion) price tag for about 30 percent
of Bank Pekao. ($1 = 3.8193 zlotys)
(Reporting by Isla Binnie, editing by Francesca Landini)