SAO PAULO: Banco Bradesco SA, Brazil’s No. 2 private-sector bank has begun exclusive talks to acquire HSBC Holdings Plc’s Brazilian unit, according to a person with direct knowledge of the transaction.
In the event that HSBC accepts Bradesco’s binding offer, a deal could be announced before the end of the month, said the source, who requested anonymity because the process is private.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!