SAO PAULO – Banco Bradesco SA
The decision leaves Itau Unibanco Holding SA
Banco Santander Brasil SA
Estado said Bradesco pulled out of the race to purchase Credicard after it got no reply from Citigroup for its offer of 3 billion reais ($1.49 billion). The offer was due to expire during the weekend.
An Itau spokeswoman said the bank made a firm bid for Credicard but declined to comment on the Estado report. Spokesmen at Bradesco and Citigroup declined to comment, and no one at Santander was immediately available.
($1 = 2.0126 Brazilian reals)
(Reporting by Alberto Alerigi and Alonso Soto; Editing by Chizu Nomiyama)