The government of Minas Gerais wants to freeze R$ 20 billion in Vale shares.
The government of Minas Gerais wants to block Vale's shares traded on stock exchanges. The shares would be unavailable where they are currently traded, on the stock exchanges of São Paulo, Rio de Janeiro, New York, Madrid, and Euronext Paris, according to the InfoMoney website.
Sputnik – This Saturday (26), along with a request to freeze assets totaling R$ 6 billion, the government of Minas Gerais wants to freeze Vale's shares traded on stock exchanges.
The shares would become unavailable where they are traded, on the stock exchanges of São Paulo, Rio de Janeiro, New York, Madrid and Euronext Paris, according to the InfoMoney website.
The document sets a limit of R$ 20 billion for the freezing of the company's shares, which currently have a market value of R$ 296 billion. This applies only to the Ibovespa, the São Paulo stock exchange.
The judge who received the lawsuit, Renan Chaves Carreira Machado, had previously approved a freeze of R$ 1 billion in Vale's accounts, which was added to another R$ 5 billion frozen at the request of the Minas Gerais government this Saturday (26).
The decision on blocking the mining company's shares should only be taken on Monday (28).