Brazilian Government Sets Sights on Vale in ‘Reprivatization’ Push
- Govt secretary says timing for share sale to be determined
- Bolsonaro administration pledging to sell off state cos.
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Brazil’s government intends to make the mining giant Vale "private again" by selling its shares and pushing out quasi-state pension funds, a senior official said. Shares rose.
"Vale is a state company. Pension funds controlled by the government control Vale," Privatization Secretary Salim Mattar said on Wednesday at an event in Brasilia. "We’re here to reprivatize Vale."