By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Amidst rumors that Brazil’s aircraft manufacturer, Embraer, was being sold to Boeing, Brazilian authorities are scrambling to dissipate fears among both Brazilians and foreign partners who have contract with the multi-million-dollar company of a takeover.

"Embraer is symbolic for the country, more or less like Petrobras," Brazil’s President Michel Temer stated in an interview to business daily Valor Economico published on Monday.

“The basic idea is this: no loss of control of Embraer either by the direct route or by the indirect route," reiterated the president . . .

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