Brazil’s BM&F Bovespa, the operator of Latin America’s biggest securities exchange has been fined $641 million by the federal revenue service for booking goodwill amortisation in 2010 and 2011 related to a 2008 merger, according to a Thursday filing.
The revenue service is questioning accounting relating to the 2008 merger of the Bovespa and BM&F exchanges. It had already fined the exchange for allegedly incorrectly reducing its tax payments with goodwill amortizations in 2008 and 2009.
BM&FBovespa also announced last week that they had bought a stake in Chile’s Bolsa de Comercio de Santiago as part of an plan to expand business in the region.
Full Content: Customs Today
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Senate Democrats Urge DOJ Investigation into Alleged Big Oil Collusion
May 30, 2024 by
CPI
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI