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Brazil watchdog approves Bradesco purchase of HSBC local unit

Reuters - UK Focus

(Corrects June 8 item in paragraph 2 to clarify that six members voted unanimously to approve the deal)

SAO PAULO, June 8 (Reuters) - Brazil's antitrust watchdog Cade approved on Wednesday Banco Bradesco SA's acquisition of HSBC Holdings Plc (HKSE: 0005.HK - news) 's local unit under certain conditions.

Six board members of Brasilia-based Cade voted unanimously to approve the transaction with restrictions, including barring Bradesco, the country's No. 3 listed bank, from carrying out any acquisitions for at least 30 months. (Reporting by Leonardo Goy; Writing by Guillermo Parra-Bernal)