Eletrobras will cease to be a state and be capitalized until 2020, said the company's president, Wilson Ferreira Jr. The declaration was made during the event of the BNDES (National Bank for Economic and Social development), in Rio de Janeiro.
To defend the short-term privatist thesis, Ferreira Jr. Used as argumentation the profits obtained by the State with the privatization of its distributors, which initiated the process of denationalization last year.
Eletrobras is now the largest electric power company in Latin America. A national state controlled shareholder, the capitalization leaves the company's shares at the mercy of the management of the private market, mainly of the foreigner, who is the most interested in assuming the administration of the state.
The president also stressed that, for the capitalization process to be completed, it is essential that the Ministry of Mines and Energy (MME) reach a solution to a judicial dispute over the hydrological risk in the hydroelectric operation.
Capitalization is different from privatization
The capitalization is the sale of assets and shares of the state, which has the permanence of the calls Golden shares, that is, maintains the actions of gold, created and retained by the state. Privatization is when the government undoes all shareholder control for private initiative, usually by public auctions.
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