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SAO PAULO, Dec 8 (Reuters) - Brazil's Cetip SA rejected a takeover bid from BM&FBovespa SA, Latin America's largest exchange operator, because the unsolicited offer undervalued the company, its chief executive said on Tuesday.
Cetip's chief executive, Gilson Finkelsztain, told journalists the Brazilian securities clearinghouse is not up for sale and has not received any other offers. (Reporting by Aluisio Alves; Editing by Leslie Adler)