Brazil's Bradesco to Buy Back 799.5 Million Reais in Shares

Banco Bradesco SA, Brazil's biggest non-state bank by assets, said it plans to buy back as many as 10 million shares.

The repurchase of as many as 5 million voting shares and 5 million preferred shares may be worth as much as 799.5 million reais ($368.8 million), based on yesterday's closing prices. The program is valid for six months, the Osasco, Brazil-based bank said in a statement on the Brazilian securities regulator's Web site.

(Published by Bloomberg, November 24, 2006)