Sao Paulo - Banco Itau Holding Financeira SA agreed to acquire Uniao de Bancos Brasileiros SA, creating Brazil's biggest bank.

According to a statement from the banks made public Monday in Sao Paulo, the merger is set to create "the largest private financial group in the southern hemisphere" and among the 20 largest in the world.

"It is a financial institution with the capacity to compete in the international stage with the world's great banks," said the statement issued by Itausa and Unibanco Holdings, which control both banks.

Sao Paulo - Brazilians were still trying to digest Monday the hard blow they took a day earlier, when they saw the Formula One world championship - which they have not celebrated since Ayrton Senna's triumph in 1991 - slip away from their hands within seconds.

For less than one minute - during the last lap of the Brazilian Grand Prix at the Interlagos circuit in Sao Paulo - the legion of Brazilian fans of motorsport revived the joy of celebrating an F1 title.

Tehran - Brazilian Foreign Minister Celso Amorim arrived in Tehran on Saturday to prepare for the upcoming Iran-Brazil summit, the official news agency IRNA reported.

Amorim conveyed Iranian President Mahmoud Ahmadinejad the written approval of President Luiz Inacio Lula de Silva for attending the summit in Tehran in the near future, without however setting a specific date.

"We welcome the visit of President Lula de Silva and hope that the summit will lead to strengthening of friendship between the two nations," Ahmadinejad told Amorim.

Sao Paulo - Ferrari's Felipe Massa took pole position for for Sunday's Brazilian Grand Prix at the Interlagos circuit in qualifying Saturday while championship leader Lewis Hamilton starts from fourth on the grid.

Massa registered a time of 1 minute 12.368 seconds for the 4.309- kilometre circuit to claim a third pole in succession at his home GP while Toyota's Jarno Trulli caused a major surprise by taking the second spot on the front row in 1:12.737 minutes.