Brazil’s Bolsonaro says could split up Petrobras as prelude to privatization

Brazil's President Jair Bolsonaro attends a ceremony to announce new measures for Brasil Empreendedor credit program in Brasilia

(Reuters) – Brazilian President Jair Bolsonaro on Tuesday floated the idea of splitting state-owned Petrobras into various pieces as a prelude to privatizing it.

Speaking in a taped interview, Bolsonaro also reiterated his opposition to its policy of raising fuel prices in line with international market swings, arguing that the company was not fulfulling its “social function” as outlined in the country’s constitution.

(Reporting by Lisandra Paraguassu; Editing by Christian Plumb)

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