Brazil’s PagSeguro nears US$3 billion deal to acquire Banco BV – newspaper report

The acquisition news had a strong negative reaction in the market, and PagSeguro's shares fell more than 14%.

RIO DE JANEIRO, BRAZIL - Brazilian financial technology company PagSeguro Digital Ltda is close to acquiring Banco Votorantim, known as BV, in a R$16 billion (US$3 billion) deal, financial news website Brazil Journal reported on Thursday.

Shares in PagSeguro fell over 13% in minutes after the Brazil Journal report was published.

PagSeguro did not immediately reply to a request for comment. Banco Votorantim declined to comment, and its shareholders Banco do Brasil and Votorantim Participacoes did not immediately respond to comment requests.

PagSeguro, which has a market cap of roughly US$18.5 billion on the Nasdaq, is principally . . .

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