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Cade recommends approval of Bradesco-HSBC deal

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Cade recommends approval of Bradesco-HSBC deal

Brazilian antitrust regulator Cade said April 4 that it willrecommend that its plenary council approves Banco Bradesco SA's pending acquisition of .

Cade's legal opinion, which was published in the April 4edition of the country's official gazette DiárioOficial da União, does not require Bradesco to any of its assets in order to obtaina final authorization for the deal. However, Bradescowill need to sign an agreement with Cade that mitigates some fair competitionconcerns.

The competition agreement will cover the following areas:communication, transparency, training, quality indicators and compliance, Cadenoted in a news release.