August 22, 2017 / 2:56 PM / a year ago

Privatization to allow Eletrobras to compete with private peers: CEO

BRASILIA (Reuters) - The privatization of Centrais Elétricas Brasileiras SA (ELET5.SA) will eliminate hurdles that state companies face in Brazil and allow the utility to compete on equal terms with private peers, Chief Executive Officer Wilson Ferreira Jr. said on Tuesday.

At a news conference in Brasilia alongside Energy Minister Fernando Coelho Filho to explain the Eletrobras privatization proposal, Ferreira said current power sector regulations in Brazil block the firm’s growth and lead to inefficiencies. The model for the privatization is yet to be decided, officials said.

Reporting by Leonardo Goy; Writing by Marcelo Teixeira

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