--Citigroup Inc. has selected Union Bank of the Philippines as its preferred bidder to acquire its consumer-banking assets in the country, Bloomberg reports, citing unnamed sources.

--The two sides aim to reach an agreement on the transaction over the coming weeks, with a potential deal valuing the assets at $1 billion, according to the report.

Full story: bloom.bg/3o9QIE3

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

December 01, 2021 01:17 ET (06:17 GMT)

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