UPDATE 1-Itau confirms talks to buy Brazilian unit of Fiat

Newswire

(Adds comments, details, share price) SAO PAULO, Brazil, Nov 29 (Reuters) - Banco Itau , Brazil's second-biggest private bank, on Friday said it was in talks to buy Banco Fiat, the Brazilian credit unit of troubled Italian car maker Fiat SpA . "We confirm that negotiations are in progress to acquire Banco Fiat," Itau said in a statement. "However, the negotiations have not been concluded." The confirmation of the talks came in the wake of renewed market speculation that the crisis-hit ...

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