RIO DE JANEIRO, BRAZIL - The Federal Audit Court (TCU) approved by majority the first stage of Eletrobras' privatization, as desired by the government. The government's aim is to complete the privatization operation by May this year.
Justice Aroldo Cedraz, the rapporteur of the case, was joined in his vote by 5 other Justices. Although the court comprises 9 justices, only 7 were able to vote in the case.
The electric giant's shares were one of Ibovespa's highlights of the day: common shares (ELET3) closed up 6.22%, and preferred shares B (ELET6), up 6.54%.
In total . . .