July 20, 2017 / 3:55 PM / a year ago

Carrefour board member Diniz says Brazil IPO shows economy recovering

SAO PAULO, July 20 (Reuters) - Carrefour SA board member Abilio Diniz said on Thursday the initial public offering of the retailer’s Brazilian unit shows the country is overcoming its harshest recession in a century.

Diniz, the third largest Carrefour shareholder, and the Chief Executive Officer of Carrefour’s Brazilian unit, Charles Desmartis, spoke at an opening bell ceremony in Sao Paulo’s stock exchange. Carrefour Brasil shares are trading 0.5 percent lower from the IPO price. (Reporting by Aluisio Alves; Writing by Tatiana Bautzer)

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