Shares in state-run Banco do Brasil SA posted their biggest slump in two months on Friday after Brazil's largest bank by assets unveiled plans to boost its stake in troubled lender Banco Votorantim SA.Shares of the Brasilia-based lender fell 2.4 percent to 26.15 reais in early afternoon trading in S�o Paulo after earlier sinking as much as 4.5 percent. The decline was the steepest since Nov. 8, according to Thomson Reuters data.According to a securities filing, any transaction between the parties would only involve the purchase of preferred shares of Banco Votorantim. Banco do Brasil is currently negotiating terms of an accord with Banco Votorantim's majority shareholder, investment holding firm Votorantim Finan�as, the filing added.Any attempt to become a majority shareholder of Votorantim could be seen by markets as a plan to shore up a lender that has suffered intensely with a decline in interest rates to record lows, a spike in loan defaults and an economic downturn, analysts said. Banco Votorantim, in which Banco do Brasil bought a 49.9 percent stake four years ago, has posted about 2 billion reais ($980 million) in losses over four straight quarters.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.05% or $-0.0145/share to $30.15. In the past year, the shares have traded as low as $26.20 and as high as $30.66. On average, 743902 shares of TRI exchange hands on a given day and today's volume is recorded at 353536.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.64% or $0.19/share to $29.94. In the past year, the shares have traded as low as $26.47 and as high as $30.25. On average, 829784 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 183235.
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