May 10, 2017 / 12:24 PM / in 3 months

Brazil's XP Investimentos does not rule sale of minority stake

SAO PAULO, May 10 (Reuters) - Brazil's XP Investimentos SA does not rule out selling off a minority stake as it continues proceedings to conduct an initial public offering (IPO), the securities firm said in a Wednesday securities filing.

The statement comes after Itaú Unibanco Holding SA , Brazil's largest private bank, confirmed talks for a minority stake in XP. Local media said on Tuesday that Itaú has proposed to purchase 49.5 percent of XP for 6 billion reais ($1.90 billion).

$1 = 3.1652 reais Reporting by Bruno Federowski and Gabriela Mello

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