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Report: AIG in talks for unit sale to MetLife

Wed Jul 8, 2009 9:25 PM EDT
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The Associated Press, HOEP

FILE - In this March 19, 2009 file photo, a car speeds past the AIG sign, at AIG's financial products offices in Wilton, Conn. They are the biggest of the big - the Citigroups, the Goldman Sachses, the AIGs and other behemoths of the financial system. The Obama administration doesn't want so many around anymore. (AP Photo/Stephen Chernin, FILE)

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— American International Group Inc. is discussing a deal for all or part of its foreign unit, American Life Insurance Co., with MetLife Inc., according to a published report Wednesday that cited people familiar with the matter.

Alico operates in 50 countries, and a deal could offer its rival a chance to expand overseas quickly, The Wall Street Journal said in a report published on its Web site.

AIG must repay tens of billions of dollars to the U.S. after it rescued the firm in September from potential bankruptcy, the newspaper said.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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