STXNEWS LATAM-Banco do Brasil submits post office accord to antitrust watchdog

Reuters

Banco do Brasil SA, the nation's largest lender, submitted late on Wednesday to anti-trust watchdog Cade the terms of a merger with a lender controlled by Empresa Brasileira de Correios e Telégrafos SA, Brazil's post office, according to a securities filing.

The submission is part of a process by which companies in a merger put the deal under Cade's analysis for its approval.

According to the filing, the accord will allow Banco do Brasil to broaden the portfolio of services offered in association with Banco Postal, as the post office lender is known. Apart from Cade's approval, the deal still requires clearance from other regulatory agencies.

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