August 10, 2018 / 6:18 PM / a month ago

Auction to sell Eletrobras subsidiaries could be postponed -source

RIO DE JANEIRO, Aug 10 (Reuters) - An auction to sell four subsidiaries of Brazil’s state-controlled power company Eletrobras scheduled to take place on Aug. 30 could be postponed, a source closely following the sale process told Reuters on Friday.

The source, who asked not to be named because he did not want to discuss the issue publicly, said a postponement could happen if Brazil’s Senate fails to approve in time a bill considered crucial to attracting investors for the auction, in which Eletrobras will try to sell four of its regional power distribution companies. (Reporting by Rodrigo Viga Gaier Writing by Marcelo Teixeira; Editing by Steve Orlofsky)

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