Petrobras Looks More Compelling Than Ever [View article]
Cal48: I don't expect Brazil to nationalize PBR, primarily because it already is. Lula's govt has majority control of voting shares, appoints all management, sets capex, imports, thermal power, retail prices. Floating ADRs raised capital. Announcing big reserves postponed the matter of paying dividends and drew in vendor financed big ticket iron. Happy ending for Brazil. Zero exports to the US.
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Cal48: I don't expect Brazil to nationalize PBR, primarily because it already is. Lula's govt has majority control of voting shares, appoints all management, sets capex, imports, thermal power, retail prices. Floating ADRs raised capital. Announcing big reserves postponed the matter of paying dividends and drew in vendor financed big ticket iron. Happy ending for Brazil. Zero exports to the US.
Sep 12 10:48 am
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All Comments by Alan von Altendorf »Petrobras Looks More Compelling Than Ever [View article]