Cielo SA (CIEL3.SA)
16 Feb 2018
R$ -0.49 (-1.97%)
Thu, Feb 1 2018
SAO PAULO, Feb 1 Cielo SA, Brazil's largest payments solutions firm, had a 2.7 percent fall in net revenue in the fourth quarter over the prior year, as competition increased and the government tightened regulation on credit card processing firms.
BRIEF-Cielo CEO Gouveia Says Larger Brazilian Card Processing Firms Target Higher Profitability, New Firms Look To Gain Market Share
* BRAZIL'S CIELO POSTS FOURTH-QUARTER NET INCOME OF 1.04 BILLION REAIS (THOMSON REUTERS CONSENSUS: 1.094 BILLION REAIS)
SAO PAULO Brazilian credit card processor Stone Pagamentos SA is planning its initial public offering in New York by the second half of the year to raise funds to compete with larger rivals Cielo SA and the Rede division of Itaú Unibanco Holding SA , three people with knowledge of the matter said.