Italian banking group UniCredit confirmed it has received offers from other parties to acquire Pioneer Investments and that it is now in talks with potential buyers.

The group put out a statement in response to “media speculations regarding asset sales”, saying offers had been received for the subsidiary.

It said: “As announced on 11 July 2016, UniCredit is undertaking an in-depth group-wide strategic review, focusing on how to reinforce and optimise the group’s capital position, improve profitability and ensure continuous transformation of operations whilst maintaining flexibility to seize value-creating opportunities.”

The review encompassed all major areas of the bank, it said.

“The outcome of this strategic review will be unveiled at a capital markets day in London on 13 December 2016,” it said.

“As regards Pioneer Investments, there can be no certainty these discussions will lead to any transaction nor any certainty as to the terms upon which any such transaction might potentially proceed.”

Italy’s postal service Poste Italiane confirmed it had presented a bid for Pioneer to UniCredit, in cooperation with Italian bank Cassa Depositi e Prestiti (CDP) and Italian independent asset manager ANIMA.

Poste Italiane said the three firms had come together to acquire Pioneer jointly and create a leading asset management operator.

The postal firm said the joint project was intended to create value for the three companies’ respective shareholders, and be capable of making the most of private savings in Italy.

French asset manager Amundi has also said it is interested in buying Pioneer, and other parties reportedly in the bidding include Australian group Macquarie and the UK’s Aberdeen Asset Management.

Offers for Pioneer, according to Italian press reports, are said to be around €3.6bn.