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SAO PAULO – The General Superintendency of the Economic Defense Administration Council (Cade) on Monday approved the unconditional purchase of 11% of Itau's stake in Ticket.
"The interest to be acquired by Itaú Unibanco is a minority, it confers only the right to preserve investment and is typical of minority shareholders, who do not allow the group Itaú Unibanco, alone, to determine or guide the business decisions of Business Serviços, "said the Superintendency in the statement.
Trading began in September of last year. At the time, the National Union of Trade and Service Entities (Unecs) had asked to intervene, which could eventually favor another banking institution to submit to hegemony in the sector of means of payment.
In response, Cade stated that the acquisition represented only 11% of the share capital, although "this does not mean that concerns raised by third parties are unfounded". As a result, the board alerted the bank. "If, in the context of this investigation, it is concluded that the verticalization and operation of this operation will result in loss of competition, this decision may be reconsidered", informed the Superintendency.
InfoMoney Itaú and Ticket, but until the time of the publication of the case, neither company sent a position.
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