Brazil antitrust agency to decide if Petrobras violated law

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

Brazil's antitrust agency says it will decide in 30 days if Petrobras (PBR -2.3%) and OGX (OGXPY.PK) violated antitrust laws in a deal announced in November; at the time, PBR agreed to sell its 40% stake in the offshore BS-4 oil block to OGX for $270M.

If the agency decides the deal without approval, the companies may be subject to fines of up to 60M reais ($27M).