Brazil's Eletrobras shares soar as Congress seen backing privatization push
Reuters
Published Aug 21, 2019 11:40AM ET
Brazil's Eletrobras shares soar as Congress seen backing privatization push
BRASILIA (Reuters) - Preferred shares of Brazil state-controlled power utility Centrais Eletricas Brasileiras SA (SA:ELET6) rose over 12% to around 45 reais after House Speaker Rodrigo Maia said on Wednesday that Congress will renew efforts to privatize the company.
Speaking after a meeting with Brazil Economy Minister Paulo Guedes, Maia said it is important to consider that resources committed to Eletrobras are affecting investments in education, health and infrastructure projects.
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Written By: Reuters
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