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Brazil Congress approves main text of Eletrobras privatization bill

BRASILIA, June 21 (Reuters) - Brazil’s lower house of Congress on Monday approved the main text of a bill allowing the privatization of state-controlled energy giant Eletrobras , with the measure to advance to President Jair Bolsonaro for approval after amendments are considered.

The government-proposed bill would privatize Latin America’s biggest power utility, known formally as Centrais Eletricas Brasileiras SA, by floating shares on the stock market, with the state relinquishing control by diluting its current 61% stake. (Reporting by Maria Carolina Marcello; writing by Anthony Boadle; editing by Jonathan Oatis)

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