November 14, 2017 / 2:26 PM / 5 days ago

Brazil lower house to pass Eletrobras privatization in 2017 -speaker

SAO PAULO, Nov 14 (Reuters) - Brazil’s lower house of Congress is likely to approve the privatization of power utility Centrais Elétricas Brasileiras SA by the end of the year, House Speaker Rodrigo Maia said on Tuesday.

Investors have voiced concerns that the privatization of Eletrobras, as the company is known, could turn into a lengthy process after President Michel Temer chose to pursue a standard legislative path instead of a presidential decree. Speaking to journalists, Maia criticized Temer’s “excessive” use of decrees, saying he is putting himself ahead of representative democracy. (Reporting by Rodrigo Viga Gaier; Writing by Bruno Federowski)

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