Chile’s fifth largest lender, Corpbanca S.A.(CORPBANCA) — - TopicsExpress

Chile’s fifth largest lender, Corpbanca S.A.(CORPBANCA) — currently working on a proposed merger with Itaú, Brazil’s largest private-sector bank — rose 2.9 percent. Cartica Capital LLC, a U.S. based hedge fund, had asked the board of Corpbanca to reject the proposed deal. On Monday, Corpbanca held a conference call with investors in which Felipe Larrain, Corpbanca’s legal counselor said, “The law in Chile is clear that a tender process isn’t required.” Cartica Capital has filed a law suit in U.S. court against Corpbanca S.A.; Alvaro Saieh, its controlling shareholder; Saieh’s holding companies and Corpbanca’s Directors, alleging fraud.

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