SAO PAULO, March 31 (Reuters) - BM&FBovespa SA, Brazil’s sole financial exchange, bought a 2 percent stake in Bolsa de Comercio de Santiago SA for about 10.3 million reais ($3.2 million) on Tuesday, in a step aimed at building ties with rivals across Latin America.
São Paulo-based BM&FBovespa bought the stake through an auction at the Santiago bourse, according to a securities filing. In February, Edemir Pinto, chief executive officer of BM&FBovespa, voiced the company’s intention to buy stakes in the main bourse companies in Mexico, Argentina, Peru, Colombia and Chile.
BM&FBovespa “will continue to evaluate” expansion opportunities in activities related to its core business, the filing added.
Shares of BM&FBovespa shed 1.4 percent to 11.19 reais. (Reporting by Guillermo Parra-Bernal; Editing by Christian Plumb)