Brazil watchdog approves Bradesco purchase of HSBC local unit

Banco Bradesco

08/06/2016 17:00

SAO PAULO, June 8 (Reuters) - Brazil's antitrust watchdog 
Cade approved on Wednesday Banco Bradesco SA's acquisition of 
HSBC Holdings Plc's  HSBA.L  local unit under certain 
conditions. 
    Five board members of Brasilia-based Cade voted to approve 
the transaction with restrictions including barring Bradesco 
 BBDC4.SA , the country's No. 3 listed bank, from carrying out 
any acquisitions for at least 30 months. The remaining two Cade 
board members abstained from voting. 
 
 (Reporting by Leonardo Goy; Writing by Guillermo Parra-Bernal) 
 ((guillermo.parra@thomsonreuters.com; Tel: +55-11-5644-7714; 
Mob: +55-119-8346-7153; Reuters Messaging: 
guillermo.parra.thomsonreuters.com@reuters.net)) 
 
Keywords: HSBC BANK BRASIL M&A/BANCO BRADESCO ANTITRUST (URG