August 21, 2019 / 3:41 PM / 4 months ago

Brazil's Eletrobras shares soar as Congress seen backing privatization push

FILE PHOTO: The logo for Eletrobras, a Brazilian electric utilities company, is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid

BRASILIA (Reuters) - Preferred shares of Brazil state-controlled power utility Centrais Eletricas Brasileiras SA (ELET6.SA) rose over 12% to around 45 reais after House Speaker Rodrigo Maia said on Wednesday that Congress will renew efforts to privatize the company.

Speaking after a meeting with Brazil Economy Minister Paulo Guedes, Maia said it is important to consider that resources committed to Eletrobras are affecting investments in education, health and infrastructure projects.

Reporting by Marcela Ayres and Ana Mano; Editing by Chizu Nomiyama

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