Congress Escalates Fight Over Vale’s Board as Citi Backs Buy Before July 22 Chair Vote

Brazil · Business Key Facts —CPMI Push. Senate and Chamber presidents are coordinating to install a mixed parliamentary inquiry into alleged government interference in Vale’s succession. —July 22 Vote. Shareholders will elect a new board chair at an extraordinary meeting, one day after Vale publishes its second-quarter production report. —Citi’s Position. The bank reaffirmed its…