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Retail Merger Sparks CVM Probe

Dec 8, 2009

A deal announced last week to merge the operations of Casas Bahia, a Brazilian retailer, into a CBD’s Globex, has raised red flags at the CVM, which appears to be preparing to conduct an insider trading investigation. CVM’s president Maria Helena Santana claims that trading in Globex, which is typically a low volume stock, was unusually high just ahead of the merger announcement, according O Globo. Between...

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There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.

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