HSBC sale of Brazil unit to Bradesco to be probed by antitrust regulator

HSBC's $5.2bn sale of its Brazil unit to Banco Bradesco is to be probed deeper by the Brazil's antitrust regulator, Cade, which is investigating the effects the deal will have on competition in the banking industry. Bradesco's agreement to buy HSBC's Brazil unit was its largest acquisition ever, adding 850 branches and $45bn in assets after it lost market share to federally controlled Banco do Brasil and Caixa Economica Federal. 

By Kevin Penton (February 1, 2016, 10:04 PM EST) -- Brazil's antitrust regulator intends to take a closer look at HSBC Holdings PLC's proposed $5.2 billion sale of its banking business in the South American country to Banco Bradesco SA, according to a notice posted Monday in a government publication....

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