Musk becomes Twitter’s biggest shareholder, won’t go to Petrobras and what matters in the market

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Musk captures Twitter

Elon Musk bought 73.5 million shares of Twitter, equivalent to 9.2% of the company, and became the largest shareholder of the social network.

The purchase, made on March 14, was revealed this Monday (4) by a document released by the SEC (the American CVM). In reaction to the news, Twitter shares soared 27% on the trading floor.

why it matters: the purchase of the shares took place shortly before the richest man in the world published (on Twitter) that he was “seriously thinking” about creating a new social network.

• On March 25th, therefore 11 days after having bought the shares, Musk took a poll on the network asking users if it followed the principles of freedom of expression. Of those who voted, 70% answered “no”. He also said that the “consequences of the poll would be important”.
• The billionaire is one of the users with the most followers and influence on Twitter. His posts on the social network have already boosted quotes for several cryptocurrencies, including those that emerged as a meme.
• His most controversial post was made in 2018, when he said he was considering taking Tesla private. The company’s shares soared at the time, and the automaker and its founder were each fined $20 million by the SEC.

In numbers: the purchase of Musk, based on the share price last Friday (1st), valued his stake at up to $2.9 billion (R$ 13.6 billion).

• In the meantime, he’s already sold $16.4 billion (R$ 77 billion) in Tesla shares, with the promise – made after another poll on Twitter – that it would sell 10% of its shares in the company.
• The acquisition of 9% by Musk is, in theory, without power to influence the management of the company, but he has four times more shares than Jack Dorsey, founder of Twitter, the sixth largest shareholder of the company. Dorsey left the company’s presidency last year.

Nominee gives up the presidency of Petrobras

The Ministry of Mines and Energy confirmed on Monday night that businessman Adriano Pires gave up taking on the presidency of Petrobras.

What explains: the economist said he would not be able to free himself in time from his work as a consultant to take over the state company.

• He owns the CBIE (Brazilian Center for Infrastructure), and even if he left the consultancy, his son is also a partner in the company, something that is prohibited by the State-owned Companies Act.
• THE sheet showed over the weekend that both Pires and Rodolfo Landim, president of Flamengo who gave up the presidency of the Petrobras board, are linked to Carlos Suarez, a mega-businessman in the gas sector.
• The Petrobras People Committee, responsible for analyzing the nominations for the state-owned company’s top management, also saw a possible conflict of interest in Pires’ nomination.

deadlock: without Pires in the game, the government is now racing against time to appoint new names to preside over the state-owned company and its board of directors. For the exchange to take place, the replacements must be appointed by the 13th, the date of the company’s general shareholders’ meeting.

Repercussion: during the day, when news already reported that Pires could refuse the invitation, Petrobras’ preferred shares fell 0.88%even on a day of high 3.39% of oil. The fall of the state-owned company pulled that of the Ibovespa, which fell by 0.24%, 121,279 points.

• Also during the afternoon, Minister Paulo Guedes (Economy), who did not participate in the nomination, said he was “without light” about the crisis generated by the change in command of the company.
• Faced with the pressure, the president of the Chamber, Arthur Lira (PP-AL), came out in defense of Pires. “‘Do you have to get an archbishop to be director of Petrobras?” he asked.

More about the Scholarship:

• Reflecting the good mood abroad, the dollar plunged 1.22%, BRL 4.61at the lowest price since March 4, 2020.
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• Latin America Could Benefit from War in Ukraine, Predicts BlackRock

2021 – the year of crypto in Brazil

Over half (51%) of Brazilians who own cryptocurrencies made the first purchase of these assets last year. When the US, Latin America and the Asia-Pacific region are included, this percentage is 45%.

The data are from a survey with almost 30 thousand people in 20 countries by the North American broker Gemini. The survey was carried out between November 2021 and February 2022.

in numbers: according to the research, 41% of people interviewed in Brazil claimed to have cryptos in their wallet. The country, along with Indonesia, is a leader among the nations consulted by Gemini.

• Latin America and Africa are the continents where 46% of respondents agree with the statement that some cryptos can protect against inflation. This share is 16% in the US and 15% in Europe.

what explains: In a year when Brazilians had to face double-digit inflation, the view that cryptos can serve as a hedge against rising prices has gained traction.

• Their good performance during the year was also a differential. Only bitcoin, the best known, rose 75% in 2021while the stock market plummeted by almost 12%.
• After peaking at $68,000 in 2021, bitcoin has cooled, and has been accumulating an annual drop of two% until this monday. Today in US$ 46 thousandreached $35,000 in January, drawing strength from the cryptocurrency’s thesis as an inflation hedge.

Amil will have to resume plans, says ANS

Amil will have to resume the portfolio of individual plans that had been transferred to the operator APS, determined the ANS (National Health Agency) on Monday.

Remember: Amil had transferred to APS at the beginning of the year assistance to 330 thousand beneficiaries of individual and family plans in São Paulo, Rio de Janeiro and Paraná.

Amil’s idea was to transfer control of APS to Fiord Capital, with whom she had agreed to pay the amount of BRL 3 billion for the fund to take over these plans.

Negative: the ANS, which had already prevented the transfer of control from APS to the fund, reported on Monday that “it has found that buyers of APS shares do not have sufficient financial capacity to guarantee the economic-financial balance of APS”.

Operators Amil and APS will be able to manifest themselves within ten days. After the deadline, the ANS will definitively decide whether to cancel the authorization granted for the transfer of the portfolio and whether to adopt new measures.

why it matters: In Brazil, individual and family plans have readjustments determined by the ANS, and in 2021 they had a mandatory discount of 8.19% – the first negative correction in history. A new adjustment should be announced this month.

• Amil’s idea was to continue only with the collective plans (business and membership), which add 80% of users in the country, and are directly negotiated between operators and customers. Prices in this type of modality skyrocketed to 133% in this year.
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• THE sheet showed in February that customers of Amil’s individual plans live with the fear of breaking the plan since the change of control.