SAO PAULO, Nov 24 (Reuters) - BM&FBovespa SA wants to buy up to 15 percent of every major stock exchange operator in Latin America in a move to assert the influence of Brazil’s sole listed bourse across the region, Chief Executive Officer Edemir Pinto told the Financial Times.
São Paulo-based BM&FBovespa, which was created after the tie-up of two arch-rivals in 2008, hired two banks last month to acquire stakes in the main exchanges of Mexico, Colombia, Chile, Peru and Argentina, Pinto said in an interview with the FT published on Monday.
He added that the goal of those purchase is to ensure a board seat on each of the bourses.
Pinto’s remarks underscore a trend among the world’s largest exchanges, which are building up stakes in some rivals to tap into the potential of some of the world’s fastest-growing capital markets. CME Group Inc, which owns a stake in BM&FBovespa, and Nasdaq OMX Group Inc are among bourse operators increasing their foothold in countries across Latin America and Asia.
The media office of BM&FBovespa did not respond immediately to requests for comment on the FT story, but an external public relations executive working for the bourse said the content of the article accurately reflected Pinto’s comments.
Bolsa Mexicana de Valores SAB is Mexico’s exchange, while Bolsa de Valores de Colombia SA,The other bourses are Argentina’s Mercado de Valores de Buenos Aires SA, Chile’s Bolsa de Comercio de Santiago SA and Bolsa de Valores de Lima SA. (Reporting by Guillermo Parra-Bernal Editing by W Simon)