Itau-Unibanco Merger Sparked by Santander Bid

Nov 4, 2008

Santander’s proposed acquisition of ABN AMRO’s Banco Real, initially announced last year, led Unibanco’s CEO Pedro Moreira Salles to sit down with Itau CEO Roberto Setubal to discuss the possibility of a merger. “For the first time we were faced with a foreign competitor that was bigger in scale...

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