September 7, 2019 / 2:40 PM / 3 months ago

Banco do Brasil confirms talks for investment banking JV- filing

SAO PAULO, Sept 7 (Reuters) - State-controlled lender Banco do Brasil SA confirmed in a securities filing late on Friday the bank is in talks with potential partners for its investment banking unit.

Reuters reported earlier on Friday Banco do Brasil and Swiss UBS Group AG are in advanced talks for an investment banking joint venture, that could be signed as soon as next month.

In the filing, Banco do Brasil said it is “considering alternatives to increase its capital markets activity that may include the reorganization of its investment banking unit and potential partnerships”. But the filing did not specify the partner.

Reporting by Tatiana Bautzer Editing by Marguerita Choy

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