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Banco BMG notifies CADE of plan to increase stake in Banco Itaú BMG Consignado

( May 14, 2014, 13:02 GMT | Official Statement) -- MLex Summary: Brazil’s antitrust regulator CADE is to review an agreement between Banco BMG and Itaú Unibanco to enable BMG to increase its stake in their joint venture, named Banco Itaú BMG Consignado. If approved, BMG will increase its stake to 40 percent, from its current 30 percent, and unify its payroll loan business with that of Banco Itaú BMGConsignado. The option to increase its ownership was included under the terms of the original agreement.Read the statement below in Portuguese:...

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