Monday, Jul 25, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Business

National City mum on talk of sale

CLEVELAND National City Corp. isn't talking about a report that it's looking for a buyer.

The Wall Street Journal cites anonymous sources in reporting Thursday that National City is in talks with several banks.

The newspaper says Pittsburgh-based PNC Financial Services Group Inc. and Toronto-based Bank of Nova Scotia are among the potential buyers.

National City spokeswoman Kristen Baird Adams wouldn't deny that the bank is looking for a buyer. She says the bank doesn't comment on rumors and speculation.

National City has been hit hard by high-risk mortgage loans and was forced to arrange a $7 billion capital infusion in April.

Shares of National City were up about 5 percent Thursday at $2.35 but are down from a 52-week high of $25.93.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…