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NEW YORK (

TheStreet

) --

General Electric

(GE) - Get General Electric Company (GE) Report

and

Capital One Financial

(COF) - Get Capital One Financial Corporation Report

submitted bids for

ING's

(ING) - Get ING Groep NV Sponsored ADR Report

U.S. online bank last week in a sale that may raise about $9 billion,

Bloomberg

reported, citing people with direct knowledge of the matter.

ING, the Dutch lender, could reach an agreement to sell ING Direct USA as soon as this month,

Bloomberg

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reported.

GE made an all-cash bid for ING Direct USA, while Capital One's offer includes some stock, the people said.

ING Direct USA is the largest U.S. online bank with $81.6 billion of deposits.

"The process to prepare a divestment of ING Direct USA is continuing," Raymond Vermeulen, a spokesman for Amsterdam-based ING, told

Bloomberg

. He declined to comment on any potential bidders or the value.

ING agreed to sell ING Direct USA by 2013 to obtain European Commission approval for the €10 billion of aid received from the Dutch state in 2008 during the financial crisis.

Proceeds from the sale would be used to repay the state,

Reuters

reported.

-- Written by Joseph Woelfel

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Joseph Woelfel

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