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Itaú’s winning bid for Banco Carrefour, 11.6 times 2010 earnings |
The Brazilian government’s attempt to dampen consumer spending and slow inflation didn’t appear to lessen the attraction to Itaú Unibanco of 49% of Banco Carrefour. Itaú outbid its rivals for the large and established retail finance operation, providing Itaú with the credit services offered in Carrefour’s Brazilian stores. These encompass a total of 7.7 million accounts, 11 million issued cards and a loan portfolio of $1.42
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