Soros Stake-Sale Report Sinks Petrobras as Brazil’s Stocks Drop
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A report saying billionaire investor George Soros’s firm sold its stake in Petroleo Brasileiro SA sank shares of the oil producer at the center of Brazil’s largest corruption scandal. The Ibovespa trimmed its weekly gain.
Petrobras dropped for the first time in six days in New York after newspaper O Estado de S. Paulo said Soros’s firm also sold its options in the company during the first quarter, citing a document sent to the U.S. Securities and Exchange Commission. Its American depositary receipts had posted the worst plunge since 2000 in the previous three months.