Business Services Industry
Brazil: Foreign capital firms control in domestic finance.
South American Business Information, August, 1999
The Brazilian monetary council has given green light to foreign investors to firm the control in domestic financial companies. BBA Creditanstalt is to acquire 50% in the stock broker Icatu, Citibank wants to control 100% in Citibank stock broker, and John Deree wants full control in Banco Agroinvest and SLC stock broker. In another non related issue, the monetary council gave green light for commercial banks to operate services in mail service offices or retailer in 1,700 municipalities that do not have bank branches.
Source: Folha de Sao Paulo Page: 5-6 Date: August 26, 1999 Country: Brazil Product: Banking Institutions
Event: Ownership SABI (South American Business Information)
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