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Retail

Brazil's largest city Sao Paulo to reopen malls for 15 days as of June 1

SAO PAULO (Reuters) - Malls and street shops will be allowed to reopen in Sao Paulo, Brazil’s largest city and the epicenter of its coronavirus outbreak, for 15 days as of June 1, according to a plan unveiled on Wednesday by Governor Joao Doria and Mayor Bruno Covas.

The city of Sao Paulo will enter phase two of the state’s reopening plan, which allows real estate operations and other businesses to operate with restrictions.

The metropolitan region surrounding Sao Paulo has been classified as phase one, in which only essential activities and construction work are allowed.

Shares in Brazil’s three biggest listed mall operators Iguatemi, Multiplan and brMalls posted moderate gains after the announcement.

Reporting by Eduardo Simões; Writing by Gabriela Mello; Editing by Marguerita Choy

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