Bacon Bradesco (BBD) drops out of the bidding for Citigroup's (C) Brazilian consumer finance...

|By:, SA News Editor

Bacon Bradesco (BBD) drops out of the bidding for Citigroup's (C) Brazilian consumer finance unit, according to a local newspaper, after getting no reply on its $1.49B offer. With Banco Santander (SAN) not yet indicating any interest, it could leave just Itau Unibanco (ITUB) as the lone potential buyer.