|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.52 - 5.70|
|52 Week Range||5.52 - 5.70|
|PE Ratio (TTM)||3.33|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||2.50|
SAO PAULO/BRASILIA, Aug 21 (Reuters) - Brazil's Mines and Energy Ministry will propose President Michel Temer to exit control of power holding company Centrais Elétricas Brasileiras SA, the boldest move yet by a government struggling to close a swelling budget deficit and heed calls to fight widespread corruption. In a Monday statement, the ministry said it told Eletrobras of the plan, which will be sent to Temer's council for state asset sales. While both the privatization model and terms are yet to be decided, the Brazilian government will keep a right to veto some strategic decisions, the statement added.
Brazilian state-controlled power utility Centrais Elétricas Brasileiras SA posted net income of 306 million reais in the second quarter, a drop of 98 percent from the year before, according to a securities ...
Eletrobras' (ELET5.SA) chief executive, Wilson Ferreira Jr, will remain in the post at the state-controlled holding company despite controversial remarks he made about some of the company's managers, Deputy Energy Minister Paulo Pedrosa told Reuters on Friday. Newspaper O Estado de S.Paulo on Thursday posted on its website a recording of comments made by Ferreira during a meeting with union leaders in which he criticized some managers at Eletrobras and said they were "bums" taking advantage of benefits provided by taxpayer money. There is no crisis at Eletrobras," Pedrosa told Reuters in a telephone interview.