By Jeffrey T. Lewis

SÃO PAULO -- Qualicorp SA's shares gained 9.5% to 17.79 reais, the equivalent of $3.14, after Brazil's competition authority authorized hospital operator Rede D'Or São Luiz SA to boost its stake in the health insurance and services provider.

Shares of Rede D'Or fell 1.6% to 46.16 reais, and Brazil's benchmark stocks index, the Ibovespa, rose 0.9% at the same time. Qualicorp's shares are down from their all-time high close of 44.99 reais, reached on Jan. 23, 2020.

Brazil's competition agency approved without restrictions Rede D'Or's request to raise its minority stake in Qualicorp through purchases in the stock market. Rede D'Or said it hadn't reached a decision on whether, or by how much, to increase its stake in Qualicorp, adding that any purchases will depend on market conditions.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

12-16-21 1159ET