Brazil banks form company to integrate ATM machines, Valor Economico says

Karen Eeuwens – Bloomberg, 01/20/2012

Banco do Brasil SA, Banco Bradesco SA (BBDC4), Caixa Economica Federal (CEFN3) and Banco Santander SA (SAN) are in final negotiations to create a company to link together and operate their ATM machines, Valor Economico reported, citing unidentified people involved in the talks.

The banks also plan to generate income by loaning the ATMs to other financial institutions, according to the Sao Paulo- based newspaper.

The new company, which is expected to begin operations in the first half, will compete with Tecban SA, in which Banco do Brasil, Bradesco and Santander hold a stake, Valor said.

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