SAO PAULO, March 30 Brazil's BM&FBovespa SA,
which last week won regulatory approval to take over a rival,
will change its name once the combination of both exchange and
clearinghouse companies is approved by shareholders, executives
said on Thursday.
Should shareholders approve the proposal next month, the
combined entity will be named B3 SA Brasil Bolsa Balcão,
outgoing BM&FBovespa Chief Executive Officer Edemir Pinto said
at an event.
B3 will set a payout ratio between 70 percent and 80 percent
and maintain a cash balance of 2.5 billion reais ($801 million)
per year, BM&FBovespa and B3 Chief Financial Officer Daniel
Sonder said at the same event.
($1 = 3.1207 reais)
(Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal;
Editing by Paul Simao)