December 27, 2017 / 10:01 PM / a year ago

Brazilian regulator recommends conditional approval of Itaú-XP deal

SAO PAULO, Dec 27 (Reuters) - A unit of Brazil’s antitrust watchdog has recommended the conditional approval of Brazilian bank Itaú Unibanco Holding SA’s purchase of a stake in financial services firm XP Investimentos SA, according to a statement issued on Wednesday.

According to the statement, the superintendent of competition regulator Cade has recommended that the watchdog approve the deal given that the parties comply with terms that they have negotiated with authorities. (Reporting by Gram Slattery; Editing by Sandra Maler)

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