December 21, 2017 / 7:20 PM / in 10 months

Brazil government has had no role in reported Embraer-Boeing talks: official

BRASILIA (Reuters) - The Brazilian government has had no role in reported merger talks between planemakers Boeing Co (BA.N) and Embraer SA (EMBR3.SA), a senior official said on Thursday.

The government holds a “golden share” in Embraer, a state-run company that was fully privatized in 2006, giving it the right to veto changes in controlling ownership.

Asked about reports of a potential tie-up, the source, speaking on condition of anonymity, said “the golden share can only be used during official decision-making, which is not now the case.”

Reporting by Anthony Boadle; editing by Jonathan Oatis

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