Itau Urges Petrobras To Exclude Government From Plan Vote.

BLOOMBERG/
Itau Unibanco Holdings is urging Petrobras to EXCLUDE the government from voting on a plan to sell at least $25 billion of stock to make sure that minority shareholders are treated fairly.
“It would have to be decided in a shareholders meeting, in which the government should not vote,” Walter Mendes, who oversees 19 billion reais ($10.4 billion).
Petrobras is seeking financing to develop fields that include Tupi, the largest oil discovery in the Americas since Mexico’s Cantarell in 1976.