The state will also inject the monetary equivalent of 5 billion barrels of oil into Petrobras, with the aim of ensuring it has the financial muscle to remain the dominantoperator.
Since then he has resurrected the company by buying telecoms businesses, emerging as the most feared competitor of NTT, the dominant, formerly state-owned telecoms operator.
Britain's Competition Commission has rightly undone the dominant position that BAA, the country's main airport operator, inherited when it was privatised.