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Brazil's lower house approves draft of key Eletrobras bill

SAO PAULO, July 5 (Reuters) - Brazil's lower house has approved the draft text of a bill that would make the sale of six money-losing distribution units by state-run utility Centrais Eletricas Brasileiras SA viable, according to the chamber's official news bulletin.

The measure was approved on Wednesday night by a vote of 203-123, the bulletin reported. Legislators will present modifications to the text next week, the next step in its potential approval.

The preliminary approval came one day after the house voted to expedite the deliberations process for the bill, which deals with the considerable debt of the six units of Eletrobras, as the state-run company is commonly known. (Reporting by Gram Slattery Editing by Jeffrey Benkoe)