Eike Batista, a Brazilian industrial magnate, said on Monday he may consider buying a stake in Vale (VALE5.SA)(VALE.N), the world's largest iron ore exporter, if given the chance. Batista has been in talks with major Vale shareholders, including Banco Bradesco (BBDC4.SA) and Banco do Brasil's (BBAS3.SA) pension fund Previ, about potentially buying out part of their stakes in Vale.
Batista also said that Vale, Brazil's largest private company, could do more to build up Brazil's infrastructure at a faster rate, including building more steel infrastructure. Vale now mines iron ore and other base metals for export, as well as holding small stakes in Brazilian steel plants.
Batista's Rio de Janeiro-based EBX holding companies (OGXP3.SA) in Brazil have plans to invest up to $10.2 billion in areas such as mining, oil, logistics and steel by 2012, a company spokesman said.
Batista said it may take years for private Brazilian oil companies, such as his OGX, to gain significant stakes in Brazil's bountiful subsalt oil prospect in deep waters in offshore Brazil, where state-controlled Petrobras (PETR4.SA)(PBR.N) has made huge oil discoveries since 2007.
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