Petrobras management asked board to delay unit IPO, source says
August 27, 2015 at 10:31 AM EDT
RIO DE JANEIRO, Aug 27 (Reuters) - Management at state-controlled Petróleo Brasileiro SA recommended the company's board in a recent meeting to delay a planned initial public offering plan of its fuel distribution unit due to souring market conditions, a source with direct knowledge of the situation said on Thursday.