10:28 AM EDT, 04/22/2024 (MT Newswires) -- Mitsubishi UFJ Financial Group ( MUFG ) is considering improving its $1.7 billion offer for a minority stake in HDFC Bank's ( HDB ) consumer lending unit in India, Bloomberg News reported Monday, citing unnamed sources familiar with the matter.

Mitsubishi UFJ has been seeking a 20% stake in HDB Financial Services, Bloomberg reported on April 12. A deal hinges on valuation and Mitsubishi potentially having a say in strategy, according to the report.

The two sides are seeking to reach an agreement in about a month but talks are ongoing and could face delays or not lead to a deal, Bloomberg reported.

Mitsubishi UFJ Financial ( MUFG ) to comment, while HDFC Bank ( HDB ) did not immediately respond to MT Newswires' request for comment.

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