© Reuters. Eletrobras logo 4/9/2019 REUTERS/Brendan McDermid
RIO DE JANEIRO (Reuters) – The Attorney General’s Office has launched a study to see what can be done from a legal point of view to question aspects of the privatization of Eletrobras (BVMF:), at the request of President Luiz Inácio Lula da Silva, he said. Agência Brasil this Tuesday.
Last week, Lula had told journalists that the AGU would ask the Court to review the privatization contract for the electricity company, citing that the process would have been “erratic” and “almost like banditry”.
The privatization of Eletrobras was approved in the government of former President Jair Bolsonaro, under criticism from leftist parties such as Lula’s PT.
The movement of the AGU put pressure on Eletrobras shares, which fell by almost 5% at the worst moment of this Tuesday’s session.
According to Agência Brasil, the Eletrobras Employees Association pointed out that, if the government wants to take control of the company again, it will have to pay more than 160 billion reais, well above the 33 billion reais obtained by the Bolsonaro government with the sale of the company’s control in June 2022.
(By Marta Nogueira, with additional reporting by Paula Arend Laier; editing by Roberto Samora)