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Brazil's Funcesp says Vale stake sale not under discussion

Fundação Cesp, Brazil's largest private-sector pension fund, said on Wednesday it is not currently holding discussions over the partial or full sale of a 200-million real ($62-million) stake it owns in Vale, the world's largest iron-ore producer. The fund issued a statement after newspaper Valor Econômico published an interview in which Funcesp president Martin Glogowsky said a potential sale would be gauged if it proved advantageous for the fund.

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