August 22, 2016 / 11:47 PM / 2 years ago

Brazil to reschedule power transmission lines auction to attract bidders

SAO PAULO, Aug 22 (Reuters) - The Brazilian government has decided to postpone the transmission lines auction scheduled for September 2 to try to avoid a failure due to lack of bidders, two sources with knowledge of the matter told Reuters on Monday.

The government had expected to attract investments of up to 12.6 billion reais ($4 billion). But the Energy Ministry decided to review the terms of the auction to ensure interest from investors. State-owned power holding company Centrais Elétricas Brasileiras SA rescheduled the privatization auction of Centrais Elétricas de Goiás SA last week also due to lack of bidders for the distribution company.

$1 = 3.1988 Brazilian reais Reporting by Luciano Costa and Leonardo Goy; Writing by Tatiana Bautzer

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