RIO DE JANEIRO: Shares of Brazilian oil company OGX SA fell 17 percent on Wednesday after more signs emerged that its beleaguered controlling shareholder, Eike Batista, was not only losing control of the company but most of his empire.
The local Folha de S.Paulo newspaper said on Wednesday that Batista planned to swap $3.6 billion in OGX Petróleo e Gás Participações bonds for shares, while giving up his controlling stake.
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