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C&A's controlling shareholder considers selling Brazil unit, newspaper says

The Brenninkmeijer family is considering selling its stake in the Brazilian unit of Dutch fast fashion retailer C&A, newspaper Valor Economico reported on Monday.

Updates with shares, C&A comments

SAO PAULO, Oct 19 (Reuters) - The Brenninkmeijer family is considering selling its stake in the Brazilian unit of Dutch fast fashion retailer C&A, newspaper Valor Economico reported on Monday.

Shares in C&A ModasCEAB3.SAwere up more than 10% in morning trading, at 14.12 reais each, following the report.

A sale of the Brazilian unit comes as part of C&A's efforts to concentrate its operations in Europe, the report said.

C&A listed its Brazilian unit on the country's stock exchange last year but still holds a roughly 65% stake.

C&A Modas declined to comment on the matter.

(Reporting by Carolina Mandl; Editing by Edmund Blair and Chizu Nomiyama)

((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11 97116-3806;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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