May 18, 2016 / 1:37 PM / in 2 years

BRIEF-Brazil Eletrobras shares fall 6 percent after ADRs suspended

May 18 (Reuters) - Centrais Eletricas Brasileiras SA

* Preferred and common shares fell by 6 percent in early trade Wednesday

* Brazil’s federal electricity utility company Eletrobras failed to submit an F-20 form to the Securities and Exchange Commission concerning potential losses from corruption in its mega projects such as the Belo Monte hydroelectric plant and the Angra 3 thermonuclear plant

* The projects are being investigated by Brazilian prosecutors after executives in the projects were ensnared in Brazil’s biggest ever corruption scandal

* The company’s ADRs were suspended on the New York Stock Exchange and could be delisted for failing to present its earnings in a timely manner Source text for Eikon: Further company coverage: (Reporting by Reese Ewing)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below