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Thursday, 12/29/2011 12:06:43 AM

Thursday, December 29, 2011 12:06:43 AM

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MetLife Inc. (NYSE:MET) has decided to sell major part of its bank deposit business to GE Capital as the US life assurer intends to avoid sensitive oversight by the Federal Reserve. The company would sell nearly $7.5bn of it’s approximately $10.7bn in US deposits to GE Capital, both companies declared on Tuesday.

Source Link: http://www.usamarketvoice.com/business-news/7731/metlife-sells-banking-business-part-to-ge.html
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