Argentina bank Supervielle sees shares spike on takeover rumors

“There is a rumor that it is being sold to a powerful group in Brazil, but nothing is known,” one trader told Reuters.

RIO DE JANEIRO, BRAZIL - Argentine banking and financial services company Grupo Supervielle saw its shares spike over 50% on Thursday, February 18th, on rumors of a potential takeover, hitting the highest level since 2018 before easing back to be up around 14%.

Traders said that unsubstantiated talk of a potential sale to a Brazilian buyer had pushed up the shares as well as the firm’s American Depositary Receipts (ADRs).

“There is a rumor that it is being sold to a powerful group in Brazil, but nothing is known,” one trader told Reuters.

An external press official for the firm . . .

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