Banca dello Stato del Cantone Ticino (BancaStato) has emerged as a prospective buyer of BTG Pactual's BSI, which the troubled Brazilian bank bought last year for $1.3bn; these reports suggest that Julius Baer will not be bidding. The Swiss banking group is understood to have been in talks with BTI about buying its stake and would likely pay around $700m (£475m) if it were able to complete the deal.
Banca dello Stato del Cantone Ticino (BancaStato) has emerged as a prospective buyer of BTG Pactual's BSI, which the troubled Brazilian bank bought last year for $1.3bn; these reports suggest that Julius Baer will not be bidding. BancaStato said it was making a non-binding offer for BSI, together with two other parties.