UniCredit seeks strategic partner for asset manager Pioneer-sources
* Bank reviewing asset sales to boost capital
* 10 potential bidders contacted for Pioneer-source
* Bank mulling large-size sale of bad loans-sources
By Gianluca Semeraro and Paola Arosio
MILAN, Sept 7 (Reuters) - Italy's largest bank UniCredit is seeking a strategic partner for its asset management business Pioneer, as part of a plan to bolster its capital base, several sources close to the matter said on Wednesday.
UniCredit in July ended long-running negotiations to merge Pioneer with Santander's asset management division in a deal valuing Pioneer at 2.75 billion euros ($3.1 billion) because of regulatory hurdles.
The Italian bank said then it was looking at alternative options for Pioneer, including a market listing.
Chief Executive Jean-Pierre Mustier, appointed in July, is widely expected to launch a multi-billion euro capital increase and sell assets in coming months to boost UniCredit's balance sheet.
He is conducting a wide-ranging review of the bank's operations, with an announcement expected by the end of the year. Continued...