OGX plays down Petronas stake buy rumors

SAO PAULO: Brazilian oil company OGX Petroleo e Gas SA played down rumors it is selling a stake to Malaysia’s state oil giant Petronas in a filing on Friday, in response to market volatility.

The filing sought to clarify "speculative rumors over an eventual sale to a foreign investor" after shares of the firm controlled by billionaire Eike Batista jumped 12 per cent on Thursday and rose as much as 9 per cent on Friday before giving back its gains.

OGX is "weighing business opportunities with various investors," the filing said, but added that "there is no consummated deal that should be communicated to the market."

OGX shares closed down 0.28 per cent at 3.59 reais on Friday.