Santander and Brazil: samba time

Santander may samba to Brazil’s booming equity market. The Spanish bank said it is considering floating a portion of its Brazilian unit, the country’s third largest banking group. It includes Banco Real, acquired as part of the ABN Amro break-up. Santander has listed minorities in subsidiaries before, in its Spain Banesto operation and in Chile. But those sales looked defensive – now the bank is on the offensive. Brazil’s equity market is booming. Brazilian companies have sold nearly R11.5bn ...