Brazil govt boosts Petrobras stake to about 48 pct

SAO PAULO, Sept 24 Fri Sep 24, 2010 7:49am EDT

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SAO PAULO, Sept 24 (Reuters) - Brazil's federal government increased its total stake in oil giant Petrobras (PETR4.SA)(PBR.N) to about 48 percent from 40 percent after a massive stock offering, Finance Minister Guido Mantega said on Friday.

The sale of nearly $70 billion in shares surpassed all expectations, particularly as it took place during a challenging time, he added ahead of a ceremony at the Sao Paulo stock exchange. (Reporting by Guillermo Parra-Bernal and Denise Luna, Writing by Elzio Barreto; Editing by Derek Caney)