Batista to Fight OGX Put

Batista to Fight OGX Put

Brazil Bonds Equity

Fitch downgraded OGX Monday after controller Eike Batista challenged the $1bn put option exercised by the firm last week. Though it was unclear if the billionaire was able or willing to fund the put option exercised by the cash-strapped oil company last week, markets had taken the news positively. Batista said Monday he would legally challenge the option within 60 days. “I note my rights under the contract and under the law to question the circumstances, the form, the content, the validity and o

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