BRASILIA (Reuters) – Brazil’s President Jair Bolsonaro signed a bill on Tuesday for the privatization of state-run Centrais Eletricas Brasileiras SA (SA:), Latin America’s largest power company and a sale of major state asset that must be approved by Congress.
The bill may face strong resistance in Congress because the government dropped the idea of maintaining a golden share in the company that would assure it the power to veto decisions once sold, which many lawmakers see as a needed guarantee for the country’s security.
(This story refiles to fix typo in headline)
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