Office Depot, Inc. may sell its 50% stake in Office Depot de México S.A. de C.V. to Grupo Gigante SAB de CV, Bloomberg reported. Quoting unnamed sources familiar with the matter, Bloomberg reported that Grupo Gigante is in discussions with local banks to get financing for the deal but the talks may still fall apart. South Florida Business Journal reported that Office Depot declined to comment on the talks.

The shares of Office Depot were up 9 cents, or 2% to $4.59 after closing on February 15, 2013.