- Some big international investors have been selling shares in Petrobras (NYSE:PBR), WSJ reports, as George Soros, BlackRock and Fidelity all cut their stakes during Q4 as the oil company's involvement in Brazil's corruption scandal gained force.
- Soros slashed his stake in PBR by 60% to 2M of the company’s ADRs at the end of Q4 from the previous quarter, BlackRock sold 8.28M shares in Q4 to leave it with 89.2M shares at the end of 2014, and Fidelity cut its stake by 690K shares to 5.9M.
- However, some big investors are keeping their stakes in PBR for the time being; Templeton's Mark Mobius says he remains committed to Latin America’s largest economy despite its current struggles with slow growth and high inflation, and his fund will maintain its ~$100M investment in the company.