February 13, 2019 / 1:16 PM / 4 days ago

Brazil pension funds should sell Vale stakes-minister

BRASILIA, Feb 13 (Reuters) - Brazilian Privatization Secretary Salim Mattar said the country’s new government wants pension funds for state-controlled companies to sell their stakes in iron ore miner Vale SA, in what he called a “reprivatization.”

Previ, Petros and Funcef, which manage pensions for the employees of Banco do Brasil SA, Petroleo Brasileiro SA and Caixa Economica Federal, collectively own a roughly 20 percent stake in Vale.

Reporting by Mateus Maia; Writing by Carolina Mandl

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