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Brazil Senate approves bill to privatize power company Eletrobras

BRASILIA, June 17 (Reuters) - Brazil’s Senate voted on Thursday to approve the basic text of a bill allowing the privatization of state-controlled energy giant Eletrobras , but the measure must return to the lower house for final passage due to changes made by senators.

The legislation 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; Editing by Leslie Adler)

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