TOKYO - Ailing supermarket operator Mycal Corp. said Thursday that it is in talks with several firms to sell its credit card subsidiary, Mycal Card Inc., but it would not name the firms involved because no deal has been concluded.
The Nihon Keizai Shimbun quoted Citigroup vice chairman Deryck Maughan in its Thursday morning edition as saying that Citigroup Inc . has entered into negotiations for Mycal Card. But the economic daily said Citigroup would be vying with several other companies, including consumer finance provider Promise Co., a partnership of Orix Corp. and GE Capital.
"We can't say which firm is leading" in the running for the deal, a spokeswoman for Mycal said.