Brazilian bank to acquire 12% of AOL Latin America

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SAO PAULO--Brazil's No. 2 bank, Itau Bank, is to acquire a 12% stake in AOL Latin America, a joint venture between America Online and Venezuelan group Cisneros. AOL Brasil will create a custom version of its service to promote to Itau's seven million bank customers, who will access the service free of charge.

Copyright June 2000, Crain Communications Inc.

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