Brazilian hedge funds have amassed a 10 percent stake in the operator of Argentina’s stock exchange and are seeking to exert their influence.
The buyers are long-term investors with the goal of growing Bolsas y Mercados Argentinos to emulate the success of Brazil’s B3 SA, according to four people familiar with the matter, who asked not to be identified because the information is private. At least three funds discussed with BYMA the possibility of naming a director, although there hasn’t been a formal proposal yet, the people said, adding that these talks have been friendly so far.