Mum’s the word on report about National City looking for buyer

CLEVELAND (AP) — National City Corp. isn’t talking about a report that it’s looking for a buyer.

The Wall Street Journal cites unnamed sources in reporting Thursday that National City is in talks with several banks.

The newspaper says Pittsburgh-based PNC Financial Services Group Inc. and Toronto-based Bank of Nova Scotia are among the potential buyers.

National City spokeswoman Kristen Baird Adams doesn’t deny that the bank is looking for a buyer. She says the bank doesn’t comment on rumors and speculation.

National City has been hit hard by high-risk mortgage loans and arranged a $7 billion capital infusion in April.