17 August 2010

BRASIL: Soros Fund Dumped ALL Petrobras Shares Over Dilution And Safety Concerns.

BLOOMBERG/ Alexander Cuadros/     The $25 billion Soros Fund Management sold  ALL of its 9.1 million Petrobras ADRs of common stock and 5.88 million ADRs preferred shares in the second quarter as investors continue to speculate that the PBR stock offering slated for next month will dilute earnings. Petrobras is also suffering from deep water safety concerns raised after BP's Gulf of Mexico gusher.