BNP Paribas is in advanced talks to buy the equities prime brokerage unit of Bank of America in a move that would boost the French group's presence in the US and enable its American rival to scale back its investment banking business.
BNP was the only contender after other bidders, such as Barclays Capital and JPMorgan Chase, quit the race, said people close to the situation who stressed no deal had been signed.
