Itaú Unibanco Holding in São Paulo, Brazil, has denied that it is in negotiations to buy Citizens Financial Group, the U.S. arm of the Royal Bank of Scotland (RBS).

The company is also not in talks to acquire any other financial institution in the U.S., nor is there a "proposal or binding document in this context," Alfredo Setubal, the company's investor relations officer, said in a filing with the Securities and Exchange Commission on Tuesday.

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