Eletrobras dips on further privatization delay

EBR Systems

21/04/2022 19:53

** U.S.-listed shares of Brazilian state-run electricity
company Eletrobras  ELET6.SA ,  EBR.N  slip 3.5% to $8.80
    ** Brazil's TCU federal audit court on Wednesday postponed a
ruling on the privatization of Eletrobras for 20 days
 urn:newsml:reuters.com:*:nL2N2WI15B
    ** Shares ended Wednesday up 4.5% after an initial request
of a 60 day delay to study the plan further was reduced to 20
days, which could allow privatization before general elections
in October 
    ** However sources say the delay will deprive the government
of the best timeframe for privatization, likely reducing the
amount of money it will raise
    ** YTD, EBR shares are up 44% 

 (Reporting by Lisa Mattackal in Bengaluru)
 ((Email: LisaPauline.Mattackal@thomsonreuters.com ; Phone:
+919945309224; Twitter: https://twitter.com/LPM94))