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Morgan Stanley sees Petrobras scandal write-offs of up to $8.1 billion

2014-11-19 20:44:43| Oil & Gas - Topix.net

Petroleo Brasileiro SA could slash the value of its assets by as much as 21 billion reais and cut dividends as a result of an ongoing investigation into alleged graft and money-laundering at Brazil's state-controlled oil producer, analysts at Morgan Stanley & Co said in a client note. ), as the company is known, under review and was reassessing earnings estimates as a consequence of the scandal.

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