untitled design

Nothing has changed in Eletrobras’ privatization strategy, says secretary

Eletrobras updated the schedule for its capitalization, now forecasting that the “follow-on” operation will take place until May 2022. According to Diogo Mac Cord, Special Secretary for Privatization of the Ministry of Economy, in an interview with CNN, nothing has changed in the company’s privatization strategy.

“What I can guarantee is that absolutely nothing has changed in Eletrobras’ privatization strategy. Everything that has been done in this project is public. So, nothing changed in the strategy. The Federal Court of Accounts has this constitutional attribution of validating these projects. This is something normal and part of the process”, said the secretary.

Marc Cord says they are comfortable with the schedule and that they are “TCU’s partners”. “We have the same mission, which is to ensure that the laws are complied with, and that this operation [capitalização] it will be done in the best way for the 210 million Brazilians who are shareholders of Eletrobras. So our mission is unique and I have no doubts that we will work together.”

The secretary says he expects the Court to make suggestions and demands, and that all will be accepted. “This process will be done by many hands. And, again, to ensure that this operation, which is good for all of Brazil, will happen in the best possible way and on time.”

Regarding the manifestations of distrust in relation to inconsistencies in the project pointed out by TCU, Mac Cord stated that there is a lot of asymmetry between information from Brasília and the market, and that there are agents who use this to cause turmoil in the market.

“There is a great asymmetry of information between Brasília and the market. This is true not only with the Eletrobras project, but for everything that happens in Brasília. Unfortunately, some agents end up using this information asymmetry to disrupt the market and, often, some incorrect information ends up going to the market”, said Diogo Mac Cord.

Reference: CNN Brasil

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular