Brazil's OGX shares extend gains on hopes it may avoid collapse
RIO DE JANEIRO
RIO DE JANEIRO Oct 16 (Reuters) - Shares of OGX Petroleo e Gas Participações SA rose 17.65 percent early on Wednesday as investors hoped the company might receive a cash injection as part of a restructuring plan to avoid collapse.
Shares of the Rio de Janeiro-based oil firm traded at 0.40 real after soaring nearly 50 percent on Tuesday on hopes that founder Eike Batista could cede control of the company during the restructuring process. (Reporting by Walter Brandimarte; Editing by Gerald E. McCormick)