On Tuesday, financial services powerhouse MetLife confirmed the import of a statement issued earlier in the day by Banco Bilbao Vizcaya Argentaria, or BBVA, to the effect that MetLife is in the process of negotiating a purchase of BBVA subsidiary AFP Provida , the largest private pension fund administrator in Chile.

Shares of AFP Provida closed up 0.9% in Tuesday trading, rising to $111.53. MetLife, too, saw its shares rise -- 0.2% to $37.72 by close of trading.

Regardless, MetLife is quick to point out that "[n]o agreement has been reached and there are no assurances that an agreement will be reached."

The article MetLife Angling to Buy Chilean Pension Business originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends AFP Provida. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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