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Reuters
Reuters
Business
Bernardo Caram and Lisandra Paraguassu

YOU WONT BELIEVE: Brazil election frontrunner lula eyes eletrobras privatization rollback aides say - What They Never Told You

FILE PHOTO: Former Brazil president and current presidential candidate Luiz Inacio Lula da Silva attends the "Lula abraca Minas" (Lula embraces Minas) event in Belo Horizonte, Minas Gerais state, Brazil, May 9, 2022. REUTERS/Washington Alves/File Photo/File Photo

Former Brazilian President Luiz Inacio Lula da Silva, the leftist frontrunner ahead of an October election, is looking at ways to reverse President Jair Bolsonaro's planned privatization of state-run electricity company Eletrobras, his advisers say.

Latin America's largest utility, known formally as Centrais Eletricas Brasileiras SA, will be the highest-profile – and perhaps final – major state asset sale for Bolsonaro's government, which has disappointed free-market advocates' hopes for more aggressive privatizations.

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