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Sao Paulo - Banco Itau Holding Financeira SA agreed to acquire Uniao de Bancos Brasileiros SA on Monday, creating Brazil's biggest bank.
The Brazilian government applauded the merger and said it would make the country's financial system stronger.
"That new bank is set to become one of the largest financial institutions in the world," said Finance Minister Guido Mantega. He described the merger as "an important event, because they are two traditional, solid banks that will become even more solid."
Sao Paulo - Brazilians were still trying to digest Monday the hard blow they took a day earlier, when they saw the Formula One world championship - which they have not celebrated since Ayrton Senna's triumph in 1991 - slip away from their hands within seconds.
For less than one minute - during the last lap of the Brazilian Grand Prix at the Interlagos circuit in Sao Paulo - the legion of Brazilian fans of motorsport revived the joy of celebrating an F1 title.
Sao Paulo - Fernando Alonso was fastest in the final practice session ahead of qualifying later Saturday for Sunday's Brazilian Formula One Grand Prix.
The Renault driver clocked a time of 1 minute 12.141 seconds in for the 4.309-kilometres lap at the Interlagos circuit in Sao Paulo.
Championship leader Lewis Hamilton of McLaren-Mercedes was second fastest, 0.071 seconds slower than Alonso, with McLaren teammate Heikki Kovalainen third quickest.
Ferrari's Felipe Massa, Hamilton's world championship rival, was fourth quickest on the circuit.
Sao Paulo - Brazilian football legend Pele made clear his scepticism as to the likelihood that Diego Maradona might be successful as coach of Argentina's senior team.
"Great stars, great players do not usually make good coaches. And sometimes a footballer that was not so brilliant in his career becomes a great coach," Pele noted, in comments that Brazilian media published Thursday.
Pele and Maradona are regarded as the two great candidates for the title of the best football players in history.
Sao Paulo/Bras
Sao Paulo - Banco Itau Holding Financeira SA agreed to acquire Uniao de Bancos Brasileiros SA on Monday, creating Brazil's biggest bank.
Sao Paulo - Brazilians were still trying to digest Monday the hard blow they took a day earlier, when they saw the Formula One world championship - which they have not celebrated since Ayrton Senna's triumph in 1991 - slip away from their hands within seconds.
Sao Paulo - Fernando Alonso was fastest in the final practice session ahead of qualifying later Saturday for Sunday's Brazilian Formula One Grand Prix.
Sao Paulo - Brazilian football legend Pele made clear his scepticism as to the likelihood that Diego Maradona might be successful as coach of Argentina's senior team.
