• Argentinian Mercado Libre is worth $60.6 billion;
• Of the 20 most valuable companies, 14 are Brazilian and four are Mexican on Economatica’s ranking.

The e-commerce retailer giant Mercado Libre has become the most valuable company in Latin America, surpassing giants like Vale, Petrobras and Itaú Unibanco, according to a survey by Economatica, reported InfoMoney.

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In the year, Mercado Libre’s shares, traded on Nasdaq, have risen 108.95%. Argentinian Mercado Libre is worth $60.6 billion, more than the market value of Brazilian retailer Magazine Luiza and Brazilian motors and generators company, WEG, combined.

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Of the 20 most valuable companies, 14 are Brazilian and four are Mexican. Argentina and Colombia both have one company figuring the ranking.