November 25, 2019 / 4:25 PM / 14 days ago

Brazil minister says it's 'impossible' to put value on Eletrobras privatization

RIO DE JANEIRO, Nov 25 (Reuters) - Brazil’s mines and energy minister said on Monday it is “impossible” to say how much the privatization of state-run power company Eletrobras SA will raise, despite an earlier government estimate of 16.2 billion reais ($3.84 billion).

Bento Albuquerque declined to provide an estimate of how much Eletrobras is worth, adding the market must wait for the privatization, expected to occur in the second half of 2020.

Last week, a source with knowledge of the deal told Reuters the government miscalculated in its 2020 budget how much it expects to raise from Eletrobras’ privatization.

Albuquerque said he expects Congress to speed up voting on N Eletrobras privatization bill after discussions with the Senate were opened last week.

$1 = 4.2150 reais Reporting by Rodrigo Viga Gaier; Writing by Gabriela Mello; Editing by Steve Orlofsky

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