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Bailed-out insurer American International Group Inc is close to picking a preferred bidder for Taiwanese life insurer Nan Shan, the Wall Street Journal reported Wednesday.

But a person familiar with the situation, who spoke on condition of anonymity, told Reuters that it was unlikely that the bidder would be publicly named next week.

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Chief Executive Bob Benmosche met Taiwanese regulators last week to talk about criteria for approving the sale, regulatory sources said. Taiwan’s Financial Supervisory Commission rejected the original $2.15 billion bid by a group it said lacked sufficient experience.

Four groups have submitted bids this time, and Taiwanese media reports suggest there are up to five contenders. ÌìÃÀÍøÕ¾´«Ã½´«Ã½ has said it expects to sell the business for at least the same amount it was offered originally.

An ÌìÃÀÍøÕ¾´«Ã½´«Ã½ spokesman declined to comment on the report.

(Reporting by Ben Berkowitz, editing by Gerald E. McCormick)

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