RIO DE JANEIRO, BRAZIL – Since João Alberto Silveira Freitas was killed in the parking lot of a Carrefour store in Porto Alegre, many in the financial market have been wondering about the reliability of the company’s governance and the maintenance of long-term investments in the French network. It seems Itaú has already made the decision to reduce its exposure to Carrefour.
On Tuesday, November 24th, Itaú sold nearly eight million of the 17 million shares it held until that date, according to data collected from Bloomberg. According to these data, Itaú was the only one of Carrefour’s major investors to sell an appreciable number of shares after João Alberto’s death.
Asked about the motive for reducing its participation so suddenly, Itaú chose not to comment. “In order to preserve investment strategies and the best interest of our shareholders, Itaú Asset Management cannot comment on fund operations”.