Reuters first with Petrobras pricing, world's largest share offering

Reuters was first to alert the pricing of Petrobras’ $70 billion share offering on Sept 23, the biggest ever share issue in history. Reuters was well ahead of Bloomberg with the pricing for each class of stock, thanks to a source involved in the transaction. Bloomberg had nothing before the official announcement. Dow Jones also obtained the pricing from a source, but Reuters was ahead. When the official announcement came out with additional details on total shares sold and amount raised, Reuters was again ahead of Bloomberg and Dow Jones. The huge share offering is closely watched by global financial markets, and the higher-than-expected pricing shows that investor optimism over one of the world’s largest oil finds in recent decades outweighed worries about growing state involvement in Petrobras affairs. The cash will help fund the world’s largest oil exploration plan, which aims to turn Brazil into a major energy exporter.