October 13, 2016 / 10:52 PM / 2 years ago

Brazil antitrust watchdog demands more information on BM&FBovespa deal

SAO PAULO, Oct 13 (Reuters) - Brazil’s antitrust watchdog CADE has declared the Brazilian bourse BM&FBovespa’s 12.9 billion reais ($4 billion) acquisition of rival Cetip SA Mercados Organizados as a complex transaction that needs a more detailed analysis, both companies said in securities filings on Thursday.

CADE decided to ask for additional information on competition in the markets where the combined entity will operate, according to the filings. But the watchdog said there is no need to extend the 240-day period, which runs until the end of February, for analyzing the deal.

$1 = 3.2210 Brazilian reais Reporting by Tatiana Bautzer; Editing by Alan Crosby

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