Cartica hits out over CorpBanca-Itau merger

Cartica hits out over CorpBanca-Itau merger

M&A

Itau Unibanco’s tie-up with CorpBanca in Chile and Colombia “greatly undercompensates” the Andean lender’s minority shareholders and should be “immediately” reconsidered, Cartica Capital said on Tuesday. The asset manager called for CorpBanca put itself up for auction, a “process that maximizes value for all shareholders,” it said in a letter to CorpBanca’s board. Itau and CorpBanca agreed in January to merge their Chilean and Colombian operations, with the new entities taking the Brazilian bran

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