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Through various entities, Brazil's government will end up buying almost two-thirds of Petrobras'...

Through various entities, Brazil's government will end up buying almost two-thirds of Petrobras' (PBR -0.4%) giant $70B offering, with commitments to purchase 2.8B of the 4.27B shares offered.
Comments (4)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    We have Government run Motors.....they have Government run oil....about the same...big losses....I think they made their fist profit a year ago...
    28 Sep 2010, 02:44 PM Reply Like
  • OptionManiac
    , contributor
    Comments (3340) | Send Message
     
    Our government "took over" the auto industry to save a million jobs (read how badly run GM was - couldn't tell within 500K how much cash they had on hand) - their government just wants control. There's a difference between taking over a failing industry and taking over a thriving industry.
    28 Sep 2010, 02:49 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    If you compare Petrobras to Exxon..you will see what I mean...and go back 15 years...I know from personal experience about Petrobras....I would never invest in them...to corrupt
    28 Sep 2010, 03:07 PM Reply Like
  • OptionManiac
    , contributor
    Comments (3340) | Send Message
     
    Corruption is the worst disease the third world and emerging countries have. Hard to believe how individuals have no qualms in bleeding their countries to death.
    29 Sep 2010, 06:30 AM Reply Like
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