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BM&FBOVESPA acquires minority stake in Mexican bourse for 640M pesos

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BM&FBOVESPA acquires minority stake in Mexican bourse for 640M pesos

BM&FBOVESPA SA – Bolsa de Valores Mercadorias eFuturos said April 5 that it acquired an equity stake of about 4.1%in Mexican stock exchange Bolsa Mexicana de Valores SAB de CV with an investmentof 640 million Mexican pesos.

The Brazilian stock exchange operator notedthat it "will continue to assess expansion opportunities in activitiesconnected to its core business."

In November 2015, BM&FBOVESPA CEO Edemir Pinto said thecompany is looking to acquire stakes in the stock exchanges of Peru, Colombia,Argentina and Mexico.

Earlier in 2016, the firm submitted a second merger proposalto Cetip SA – MercadosOrganizados, but like the first offer, it too was rejected by Cetip's board.

As of April 5, US$1was equivalent to 17.74 Mexican pesos.