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Brazil: Top bank files for merger approval

By  |  March 7, 2014

Brazil’s largest bank Banco do Brasil has officially filed the terms of its proposed proposal with a lender owned by Brazil’s post office, say reports.

Banco do Brasil filed with antitrust regulator CADE to acquire the assets from Empresa Brasileira de Correios e Telegraficos as the bank looks to strengthen Banco Postal, the post office lender run by Banco do Brasil.

Reports say CADE, among other regulators, will need to clear the merger.

Full Content: Reuters

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