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Brazil Property News: Latin America's 2 largest companies in Brazil
14th January 2008 12:24
Brazil is home to Latin America's two largest companies, it has emerged this week, further illustrating its growing economic strength.
According to a study published by consulting company Economática, state-owned Petrobras and mining firm Companhia Vale do Rio Doce (CVRD) ended 2007 as the two biggest firms in Latin America by market capitalisation.
The study revealed that Petrobras maintained its lead while CVRD overtook Mexican telecommunications firm America Movil to take the second slot, reports Brazzil Mag.
Economática's study also found that Latin America's 25 largest listed companies' joint market capitalisation was 51.8 per cent higher than in 2006.
Furthermore, the number of Brazilian companies in the top 25 rose from 12 to 13 with the Bovespa Holding making the list this year after floating some shares in October.
Earlier this year Petrobras made the headlines when it discovered oil off the coast of Rio de Janiero, said to be worth 40 per cent of Brazil's total oil reserve.
Property investors may be glad to see Brazil's economy making progress as this could have a positive knock-on effect on the property market and encourage investors to buy in the country.
For more information on Brazil property investment and to find out about uv10's latest projects, contact uv10 on 0845 643 1036 or email info@uv10.com or visit our website: http://www.uv10.com
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