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Financial News: BRAZIL: Minister Compares Eletrobras Privatization With Te

BRAZIL: Minister Compares Eletrobras Privatization With Telecom's

09/26/2017 - 16:22:00 (RTTNews)

(RTTNews) - The privatization of the state-owned power distributor Eletrobras would be beneficial to the company and to the Union, since it has been losing relevance in the domestic market, said Minister of Mines and Energy Fernando Coelho during a public hearing at the Brazilian Senate Infrastructure Services Committee.

"What is more worthwhile: to have 61% of a company worth X, or to have a smaller share of a company worth 2-X?" he asked.

Coelho recalled that while Eletrobras has been suffering from governance problems, other companies that in the past were state-owned, such as Vale, Embraer and telecommunication operators, are now in a better position than when they were controlled by the government.

"Today, telephone companies are in the hands of Italians and Mexicans, Portuguese and Spanish, and for every 100 inhabitants in the country, there are currently 117 lines in operation," said the minister.

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