May 24, 2018 / 5:09 PM / 3 months ago

Eletropaulo says Enel, Neoenergia to present bids for company only on June 4

SAO PAULO, May 24 (Reuters) - Brazilian power distribution company Eletropaulo Metropolitana Eletricidade de Sao Paulo SA said in a securities filing on Thursday that a court decision changed the rules for the auction of the company’s controlling stake.

According to the filing, bidders Enel SpA and Neoenergia SA, which is controlled by Spain’s Iberdrola SA, will not present new offers later on Thursday as was previously scheduled. New bids will only be presented in the auction through Brazil’s stock exchange on June 4, according to the court order. (Reporting by Marcelo Teixeira and Tatiana Bautzer Editing by Chris Reese)

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