August 10, 2018 / 6:22 PM / 4 months ago

Auction to sell Eletrobras subsidiaries could be postponed: source

RIO DE JANEIRO (Reuters) - An auction to sell four subsidiaries of Brazil’s state-controlled power company Eletrobras scheduled to take place on Aug. 30 could be postponed, a source closely following the sale process told Reuters on Friday.

The source, who asked not to be named because he did not want to discuss the issue publicly, said a postponement could happen if Brazil’s Senate fails to approve in time a bill considered crucial to attracting investors for the auction, in which Eletrobras will try to sell four of its regional power distribution companies.

Reporting by Rodrigo Viga Gaier; Writing by Marcelo Teixeira; Editing by Steve Orlofsky

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