Aug 19, 2014 2:41pm EDT
RIO DE JANEIRO, Aug 19 (Reuters) - Eike Batista's iron ore miner MMX Mineracao e Metalicos SA said on Tuesday it is not considering filing for bankruptcy, denying a local media report published late on Monday.
"MMX clarifies that there are no deliberations in process on this matter at the company," the firm said in a statement.
Shares of Rio de Janeiro-based MMX fell nearly more than 7 percent to an all-time low earlier on Tuesday due to the report, which appeared on the website of the Brazilian magazine Veja. (Reporting by Stephen Eisenhammer; Editing by Meredith Mazzilli)
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Batista’s MMX Said to Pursue Asset Sales to Avoid Bankruptcy
Today - 19:49 GMT
(Updates with share price in sixth paragraph.) Aug. 19 (Bloomberg) -- MMX Mineracao & Metalicos SA, Eike Batista’s mining company, is seeking to sell assets to avoid following the former billionaire’s oil and shipping units into bankruptcy protection, a person familiar with the strategy said. The Brazilian iron-ore miner is trying to find buyers for its remaining assets, or to … (continue reading)