Saraiva Falls in Sao Paulo After Saying No to Deal Report

Saraiva SA Livreiros Editores (SLED4) fell the most in more than three months as the Brazilian bookseller said it had nothing to report after Amazon.com Inc. (AMZN) was said to be in talks to buy the company.

Shares dropped 4 percent to 26.78 reais at the close of trading in Sao Paulo, the most since July 3. The benchmark Bovespa index sank 1.4 percent.

The world’s largest online retailer is in talks to buy Sao Paulo-based Saraiva, which publishes books and sells them on the Internet and in brick-and-mortar stores, according to a person with direct knowledge of the discussions who asked not to be identified because they are private.

“The company is always willing to look at opportunities,” Saraiva said in a regulatory filing in response to a request from the stock exchange. “There is no deal of any type that needs to be reported under the legislation.”

Saraiva slipped 0.4 percent yesterday, after a 7.3 percent advance on Oct. 17. The stock has gained 40 percent since this year’s low on July 25.

To contact the reporter on this story: Julia Leite in New York at jleite3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.