Brazilian cement maker Votorantim Cimentos is not willing to divest its stake in Cimpor as this would allow its home competitor Camargo Correa to boost its holding in the Portuguese sector firm, economic daily Diario Economico reported on Thursday.
According to recent speculation, Votorantim was not happy with the fact that it has no significant role on the strategic decisions concerning Cimpor’s foreign expansion.
A representative from the Brazilian company, however, has ruled out rumours, the daily said.
