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Report: UniCredit seeks bidders for Austrian card business

UniCredit SpA has started looking for bidders for its Austrian credit card business, Bloomberg News reported Dec. 13, citing people with knowledge of the matter.

The Italian banking group is said to be working with HSBC to sound out potential buyers for Vienna-based Card Complete Service Bank AG, which could include Denmark's Nets A/S. UniCredit holds 50.1% in the business through UniCredit Bank Austria AG, while Raiffeisen Bank International AG owns 25%, according to S&P Global Market Intelligence data.

It remains unclear if UniCredit is the only seller, the report added.

UniCredit began considering a possible sale of Card Complete in July, when the unit's enterprise value was estimated at roughly €400 million, Bloomberg noted.