Going bananas in Brazil

Fiona Maharg-Bravo Santander: Emilio Botín is understandably proud of his Brazilian baby. Santander’s chairman expanded the Spanish bank’s operations in Latin America’s largest economy by taking over Banco Real in the only successful part of the ill-fated ABN Amro carve-up. Now Santander plans to sell 16% of the Brazilian unit into public markets to fund growth and shore up its capital. But judging from the price range, which values the unit between E26.8bn and E30.5bn, Botín may be getting s...