GE in talks to sell $74B portfolio to Wells Fargo

General Electric Co. is in early-stage talks with Wells Fargo & Co. to sell its entire $74 billion U.S. commercial lending and leasing portfolio to the bank, a source familiar with the situation told Reuters.

Other parties reportedly may be in talks as well. The source said GE could decide to break the business up and sell it in pieces.

Earlier this month, the company announced plans to jettison the bulk of GE Capital during the next few years to focus on industrial manufacturing.

Because of charges related to the corporation’s strategic shift, GE posted a first-quarter loss of $13.6 billion.

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