BankAmerica to Sell Italian Unit
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From Reuters
NEW YORK — BankAmerica Corp., the parent firm of ailing Bank of America, continued its recent housecleaning today by agreeing to sell its Italian unit to Deutsche Bank AG, West Germany’s largest bank, for $603 million. The sale of Banca d’America e d’Italia to Deutsche Bank had been expected for some time as part of San Francisco-based BankAmerica’s strategy of selling assets as it fights a takeover bid by First Interstate Bancorp.
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