November 5, 2018 / 12:37 PM / a year ago

Brazil's stock exchange considers whether airline Gol can list on Novo Mercado

SAO PAULO, Nov 5 (Reuters) - razilian stock exchange operator B3 SA is considering whether Gol Linhas Aéreas Inteligentes SA qualifies for a Novo Mercado listing, which the airline needs to complete a takeover of subsidiary Smiles Fidelidade SA.

Some shareholders in Smiles, which runs Gol’s loyalty programme, have complained that under the proposed cash and shares deal, Gol would weaken minority shareholders voting rights.

In a securities filing on Monday, Gol said B3 would seek an opinion from an internal consultative body on whether Gol qualifies for a Novo Mercado listing.

A full takeover of Smiles by Gol must be approved by shareholder meetings of both companies. (Reporting by Ana Mano; Editing by Mark Potter)

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