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Mumbai Feb. 26 Canara Bank will offer an equity stake to a strategic foreign partner in its 100 per cent wholly-owned asset management company, Canbank Investment Management Services Ltd., said Mr M.B. N. Rao, Chairman and Managing Director, Canara Bank.

"Talks are at an advanced stage and the bank has short listed a few entities for the alliance. The partner will be announced in the next few weeks, and will mostly be a foreign entity," he added.

The quantum of equity stake on offer is not known, though Mr Rao clarified Canara Bank will continue to hold majority stake.

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