Reuters well ahead on brokerage ban in huge Brazilian IPO

Reuters was unmatched by Dow Jones and was ahead of Bloomberg by nearly 2 hours on June 24 with news that 19 brokerages had been banned from the largest ever IPO in Brazil. Bradesco, Brazil’s second-largest private sector bank, banned its own brokerage among several others after allegations the firms sent unauthorized promotional material about the initial offering of VisaNet. The stock sale raised about $4.3 billion, making it also one of the biggest in the world the past year.