Petrobras’s stock rises on Bolsonaro’s privatisation comments | Business and Economy News
Monday was the second time this month that the Brazilian president mentioned privatising the state-run oil firm.
State-run oil company Petrobras has seen its stock price trade up on comments from Brazilian President Jair Bolsonaro that he is considering privatising the firm.
In addition to Bolsonaro’s comments on Monday, the second time this month, a Senate leader said studies were already under way regarding the dilution of the government’s share in the firm, news that helped boost the company’s shares to more than 7 percent.
“This is on our radar,” Bolsonaro said during a radio interview. “But privatising a company is not just putting it on a shelf and whoever offers the highest bid takes it, it is very complicated.”
Later in the day, Fernando Bezerra, the head of the government in the Senate, told the Reuters news agency officials were studying the possibility of privatising the company via a share sale.
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