Brazil watchdog wants Bradesco to refrain from M&A to approve HSBC Brasil deal

Banco Bradesco

08/06/2016 16:00

BRASILIA, June 8 (Reuters) - A board member of Brazil's 
antitrust watchdog Cade recommended to approve Banco Bradesco 
SA's purchase of HSBC Holdings Plc's local unit under certain 
conditions, including barring the country's No. 3 listed bank 
from buying rivals for at least 30 months. 
    Cade's seven-member board will vote on the recommendation by 
João Paulo de Resende, also the rapporteur of the Bradesco-HSBC 
Bank Brasil Banco Múltiplo SA deal, later on Wednesday. 
 
 (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