Brazil's CVM watchdog opens second probe into Petrobras shakeup

Reuters | Brasilia | Updated: 23-02-2021 23:45 IST | Created: 23-02-2021 23:38 IST
Brazil's CVM watchdog opens second probe into Petrobras shakeup
Representative image

Brazil's market regulator CVM said on Tuesday it has opened a second investigation into the announced shakeup at state-controlled oil giant Petrobras , which triggered a two-day share selloff that wiped more than 100 billion reais ($18.3 bln) off its value.

CVM on Monday had announced the opening of an investigation on the change of leadership that Brazilian President Jair Bolsonaro announced on Friday in a social media posting. The commission said it opened a second investigation in response to an investor's complaint.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



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