SAO PAULO, June 15 ― Brazilian President Jair Bolsonaro rang the bell at the Sao Paulo stock exchange yesterday to mark the start of trading in shares of newly privatised electricity company Eletrobras, the second-biggest stock offering worldwide this year.
It is part of Bolsonaro's plans to privatize state-run companies en masse ― a promise he has largely failed to deliver on nearing the end of his four-year term and facing an uphill battle to win reelection in October.Economy Minister Paulo Guedes hailed it as a victory for private-sector efficiency.“It's like a child who left home at 18 and is going to go out and triumph. It no longer needs the protection of the state, which was becoming detrimental.
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