Business & Finance

Reuters first to report Brazil preparing Eletrobras privatization decree; market reacts

Shares of Brazil’s biggest utility soared after Reuters broke the news on Tuesday that Brazil’s government was preparing a decree on the proposed privatization of state-run power company Eletrobras. The presidential decree allows development bank BNDES to work on the privatization of the company.

Market Impact

The firm’s most widely traded class of stock quickly added a 10% gain in the session and jumped another 6% in opening Wednesday trading after the news was confirmed by the company and government.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & EnergyEquities
Regions: South America
Countries: Brazil
Win Types: Speed
Media Types: Text
Customer Impact: Important Regional Story
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