Two months ago I wandered into a Schwab office and asked to apply for the card to cash in on its no foreign-currency transaction fees policy before an overseas vacation.
Both companies are major multinationals, and while there was no question that their European operations made the deal subject to EU approval, it seemed jarring that regulators in their home country would approve a transaction that was then blocked overseas.
The dollar is now trading at BRL1.64, just days after the government raised the financial transaction taxes on foreign banks taking out loans overseas and bringing in dollars to the country.
Other stocks should be contemplated as long-term plays because of the transaction costs:Your broker must go through an Aussie counterpart, adding overseas commissions and foreign-exchange spreads to the U.S. brokerage fee.
He received financing to back the deal, the largest merger-and-acquisition transaction introduced in Asia last year, from a group of banks including United Overseas Bank Ltd.