Brazil Clears Petrobras, Advisors in 2010 Share Offer
Brazil's securities industry watchdog on Tuesday cleared Petroleo Brasileiro SA , former management and financial advisors of wrongdoing over alleged irregularities relating to the state-controlled oil company's $70 billion share offering in September 2010.
The watchdog known as CVM had been investigating whether Petrobras deceived minority shareholders by presenting misleading information to them in the offer -- the world's largest ever follow-on stock offering.
(Reporting by Marta Noguiera; Writing by Alexandra Alper; Editing by Sandra Maler)
(Reporting by Marta Noguiera; Writing by Alexandra Alper; Editing by Sandra Maler)