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BankAmerica said it may sell its Italian bank unit.

September 12, 1986

The company made the announcement following reports that the profitable unit was up for sale. The statement said the bank has had "expressions of interest" regarding it. The Wall Street Journal quoted sources as saying that financially pressed BankAmerica had decided to sell the subsidiary if it received a good offer. The sources said BankAmerica was seeking at least $600 million for Banca d'America d'Italia. In a related development, a spokeswoman for the San Francisco-based bank holding company confirmed that BankAmerica is discussing the sale of part of BankAmerica S.A., its 60-branch operation in Argentina.

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