Barclays buys a 5.4% preferred stake in Itaú Unibanco

Bnamericas Published: Friday, April 24, 2009
UK bank Barclays (NYSE: BCS) has taken a 5.37% preferred share stake in Brazil's largest bank Itaú Unibanco (NYSE: ITU), the banks said in a securities filing with stock exchange Bovespa. As of April 6, Barclays, through its subsidiaries Barclays Global Investors, Barclays Bank, Barclays Global Fund Advisors, and Barclays Capital, owned 111mn preferred shares of Itaú Unibanco, the filing said. Barclays said its purchase was for investment purposes and it had no intention of influencing the management of the bank. It holds no convertible bonds in Itaú Unibanco. Itaú Unibanco had earnings of 7.80bn reais (US$3.55bn) in 2008 and total assets of 633bn reais at year-end, according to its fourth quarter financial statements. First quarter figures are due out May 5.

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