Petrobras board member may file complaint over $6.8 bln oil plan
RIO DE JANEIRO, June 26 (Reuters) - A board member of Brazil's state-run oil company Petrobras said he is considering filing a complaint with the country's securities regulator after the government and executives failed to inform him and other board members of a 15 billion real ($6.8 billion) oil-rights purchase plan until it was made public.
Silvio Sinedino, who represents union employees at the company, said that the failure to inform the board or debate the government's plan to sell Petrobras the offshore oil rights violates the bylaws and minority shareholder rights of Petroleo Brasileiro SA, as Petrobras is formally known.
Mauro Cunha, a board member who represents minority shareholders, said through a press aide that he only learned about the plan, approved by the government on Tuesday, through a Petrobras securities filing later the same day. ($1 - 2.20 Brazilian reais) (Reporting by Jeb Blount; Editing by Jonathan Oatis)
© Thomson Reuters 2016 All rights reserved.