August 13, 2014 / 2:53 PM / 4 years ago

Corpbanca sees Itau merger completed in Q1 2015

SANTIAGO, Aug 13 (Reuters) - Chilean bank Corpbanca expects its merger with Brazilian bank Itau Unibanco to be completed by the first quarter of 2015, it said on Wednesday.

The deal, which would be Latin America’s largest banking combination since 2008, has faced stiff opposition from minority shareholder Cartica and is being probed by the World Bank’s private investment arm International Finance Corp.

“We are expecting (an IFC decision) in September, we are going to have news on that, and if all the things run well, we are going to call shareholder meetings in November...we expect the merger to be done during the first trimester of 2015,” said CorpBanca chief executive officer Fernando Massu on a call with investors. (Reporting by Rosalba O’Brien; Editing by Chizu Nomiyama)

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