Brazil's Jair Bolsonaro signs law to allow for privatization of Eletrobras

RIO DE JANEIRO: Brazilian President Jair Bolsonaro on Tuesday signed a law that paves the way for the privatization of state-controlled electricity utility Eletrobras, part of the right-wing leader's agenda to reduce the size of the Brazilian state.
The law allows Eletrobras to raise new equity in the private market, diluting the stake currently held by the Brazilian state, which stands at 61%.
The government expects this privatization to conclude by January 2022.