September 21, 2017 / 10:40 PM / in a month

Brazil's B3 fined 3 bln reais by revenue service over merger

SAO PAULO, Sept 21 (Reuters) - Brazilian financial exchange operator B3 SA Brasil Bolsa Balcão, Latin America’s largest exchange, on Thursday said it was fined 3 billion reais ($956.24 million) by the federal revenue service for its accounting of the Bovespa merger in 2012 and 2013 earnings reports.

B3 said it considers its accounting of the operation to have been done in accordance with the law and plans to appeal the fine. ($1 = 3.1373 reais) (Reporting by Aluisio Alves and Marcelo Teixeira; Editing by Jonathan Oatis)

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