July 16, 2018 / 12:20 PM / in a month

'No problem' delaying Eletrobras auction: Brazil finance minister

SAO PAULO (Reuters) - Brazil’s finance minister Monday told a newspaper on Monday that it could be best to delay a closely watched privatization of units of state-run utility Centrais Eletricas Brasileiras SA (ELET6.SA).

FILE PHOTO: Brazil's Finance Minister Eduardo Guardia gestures as he attends a media conference in Brasilia, Brazil May 28, 2018. REUTERS/Adriano Machado

In an interview, Finance Minister Eduardo Guardia said privatizing the distribution units own by Eletrobras, as the company is commonly known, was “priority number one” for the government. However, he said, it could be best to delay a July 26 auction date, in order to give time for the Senate to approve a law that would make the assets more attractive.

“If we have to delay to August to have more time, that’s not a problem. It’s our decision,” Valor quoted Guardia as saying.

“We have to evaluate if the market will be ready to begin the auction on July 26.”

Reporting by Gram Slattery; Editing by Nick Zieminski

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