Washington Mutual Inc. has put itself up for sale and hired Goldman Sachs & Co. and Morgan Stanley to operate the auction, according to a Reuters report.
Potential buyers include HSBC Holdings Plc, Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. However, the sale is not said to be imminent, and other options remain on the table. A merger with Morgan Stanley was also a rumored possibility.
Washington Mutual has projected $19 billion of mortgage losses through 2011.