São Paulo, 23 (Agência Brasil - ABr) - The president of Petrobras, Francisco Gros, said yesterday the company is not worried about an unfavorable market reaction to its purchase of the Argentine firm, Perez Companc. "I believe our shareholders will understand...we paid the right price for more assets, within the context of the crisis in Argentina," said Gros.

Gros explained that although Perez Companc has its headquarters in Argentina, its assets are located in various Latin American countries: 38% in Argentina, 31% in Venezuela, 12% in Bolivia, 10% in Ecuador and 9% in Peru. "The diversified activities throughout Latin America is of great interest to Petrobras," said Gros. (AB)