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Petrobras management and advisors clear of wrongdoing in 2010 share offer

 


RIO DE JANEIRO
Petroleumworld 07 12
2017

Brazil's securities industry watchdog on Tuesday cleared Petroleo Brasileiro SA , former management and financial advisors of wrongdoing over alleged irregularities relating to the state-controlled oil company's $70 billion share offering in September 2010.

The watchdog known as CVM had been investigating whether Petrobras deceived minority shareholders by presenting misleading information to them in the offer -- the world's largest ever follow-on stock offering.



Reporting by Marta Noguiera; Writing by Alexandra Alper; Editing by Sandra Maler from Reuters .

reuters.com
07 11 2017

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