UPDATE 2-GE in talks to sell lending, leasing portfolio to Wells Fargo-source

April 20, 2015 5:25 PM

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April 20 (Reuters) - General Electric Co is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.

The discussions with Wells Fargo started just last week and other parties may also hold talks with GE about buying the entire U.S. CLL portfolio, the source said. GE is also exploring selling the U.S. CLL portfolio piecemeal and could decide to break the business up, the source added.

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