Credit Suisse denies receiving an approach to sell Brazilian unit

FILE PHOTO: The Credit Suisse logo is seen at the headquarters in downtown Milan, Italy, March 9, 2016. REUTERS/Stefano Rellandini

SAO PAULO (Reuters) -Credit Suisse Group AG denied on Friday a report that it had received an approach to sell its Brazilian subsidiary.

Brazilian financial blog Brazil Journal said Brazilian broker XP Inc. had approached the bank in Switzerland.

In a statement released by the Brazilian operation of Credit Suisse, the Swiss bank said it “categorically denied” it was talking to any group about the matter.

The report had cited people with knowledge of the issue and said Switzerland had told Credit Suisse executives in Brazil about the approach.

XP declined to comment.

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