Itau Unlikely to Buy Big: Barclays

Itau Unlikely to Buy Big: Barclays

Brazil M&A

Barclays reports that Itau Unibanco is unlikely to make a transformational acquisition, following comments by the Brazilian bank’s management on a Q3 conference call last week. Itau’s management says the bank will continue to focus on Brazil, and acknowledges that high valuations for LatAm financial assets make it difficult to arrange accretive acquisitions. The bank reaffirms its commitment to disciplined expansion, and says the next step for expanding its footprint will be countries in which i

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