March 1, 2018 / 12:41 PM / a year ago

Brazil's Vale says shareholder Litel has not approved stake sale

SAO PAULO, March 1 (Reuters) - Brazil's mining company Vale SA denied a report in the local media that said Litel Participações is preparing a share offering to sell its stake, according to a Vale securities filing on Thursday.

Vale said it had consulted Litel, which informed the mining company that there is no decision regarding a possible sale nor any mandates to banks to manage it. Vale shares fell 4.8 pct on Wednesday, to 45.05 reais. (Reporting by Marcelo Teixeira)

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