Global Competition Review interviews Vicente Bagnoli on CADE’s decision approving the merger between BMF&Bovespa and Cetip
Brazil approves clearing house acquisition
28 March 2017
Brazil’s competition enforcer last week conditionally approved the 12 billion reais (€3.5 billion) tie-up of stock exchange BM&FBovespa and rival clearing house Cetip.
In a statement last week, the Administrative Council for Economic Defense (CADE) said the companies have agreed to let third parties access the new company’s infrastructure on “fair, transparent and non-discriminatory” terms.
Vicente Bagnoli at Vicente Bagnoli Advogados said CADE required remedies as the market for central depository services was already highly concentrated.