SAO PAULO, June 21 (Reuters) - Itaú Unibanco Holding SA, Latin America’s largest bank by assets, has decided not to make a binding offer to acquire control of Argentine lender Banco Patagonia SA.
In a Wednesday statement, Itaú said the decision followed “careful analysis” of the deal. The statement came after Argentine newspaper Clarin said Itaú had the best chance among three suitors to acquire a controlling stake in Patagonia from state-controlled Banco do Brasil SA.
The media offices of Banco do Brasil and Patagonia could not immediately be reached. (Reporting by Guillermo Parra-Bernal; Editing by Sandra Maler)