MF Global Holdings is in "advanced negotiations" to sell its struggling futures brokerage, a source close to the company told CNBC.
The company is negotiating with a narrow field of bidders, the source said, and a sale of its broker-dealer unit remains an option.
MF is hoping to reach a deal for its futures arm by Monday, if not sooner, the source said. The company reportedly tapped its $1.3 billion credit lines "to preserve liquidity," and remains in contact with regulators, the source said.
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