Banco do Brasil, Bradesco say they have not received formal proposal for Alelo

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Brazilian lenders Banco do Brasil BMFBOVESPA:BBAS3 and Bradesco BMFBOVESPA:BBDC3 said on Wednesday evening that they had not received any formal proposal regarding a deal involving Alelo, the meal voucher provider they own together. In two separate securities filings, both lenders also said they are constantly mulling business opportunities. Earlier in the day, newspaper Valor Economico reported, citing sources, that Brazilian food delivery app iFood, owned by Dutch technology investor Prosus EURONEXT:PRX, was in advanced talks to buy Alelo for about 5 billion reais ($904.75 million).

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