RIO DE JANEIRO, BRAZIL - The statement was given in response to a report published on Tuesday by the newspaper O Globo. According to the newspaper, the team of Economy Minister Paulo Guedes was conducting studies to give up control of Banco do Brasil.

"Look, I saw on the cover, it was on Globo yesterday, that says that people are starting to study privatization of Banco do Brasil. A low-ranking employee says that - but I have nothing to do with it. I can't control hundreds of thousands of civil servants in Brazil. For my part, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here