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Weekly Report - 24 August 2017 (WR-17-33)
BRAZIL: Eletrobras privatisation moves the markets
Shares in Centrais Elétricas Brasileiras (Eletrobras) soared by almost 50% on 22 August after the government unveiled plans to privatise the Brazilian electricity company. Investors have welcomed the move to sell off Eletrobras as a sign that the centre-right Partido do Movimento Democrático Brasileiro (PMDB) government led by President Michel Temer is committed to pro-market reform. This marks a shift from the previous two administrations under the leftist Partido dos Trabalhadores (PT), which was characterised by a high level of government intervention in the running of Eletrobras.
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