By Paula Laier
SAO PAULO, April 11 (Reuters) - Brazilian retailers B2W and Magazine Luiza confirmed in filings on Wednesday they are considering the acquisition of online shoe retailer Netshoes Ltd.
The deal model is still unclear. When Netshoes hired Goldman, Sachs last year, the company was seeking an investor to inject cash so it could restructure its debt.
Analysts at Banco Brasil Plural said in a note to clients on Thursday that a potential acquisition would be neutral for Magazine Luiza, as the acquisition price would not strongly affect cash flow.
"Magazine Luiza could use the Netshoes opportunity to start selling clothes and shoes to compete with Amazon.com in Brazil", analysts said.
Netshoes has a market capitalization of $68 million, but as the company is highly indebted, the total cost of the deal would be higher.
Brasil Plural analysts considered an acquisition would be negative for B2W, as its cash flow would be affected by Netshoes losses. (Reporting by Paula Laier; Writing by Carolina Mandl; Editing by David Gregorio)