Eletrobrás' management confronts President Lula and attempts to maintain the company's immoral privatization.
At the end of the Bolsonaro administration, the state-owned company was practically given away to private shareholders — something the Lula government is now trying to reverse.
247 - After President Luiz Inácio Lula da Silva (PT) and the Attorney General's Office (AGU) filed a A lawsuit filed in the Supreme Federal Court (STF) questioning parts of the privatization of Eletrobrás.The company's management released a "relevant fact" statement contesting the federal government's initiative.
According to the document, published this Monday (8), "the purpose of the ADI [Direct Action of Unconstitutionality] would not be the re-nationalization of Eletrobrás nor the alteration of its current legal regime", but rather to recover the "preponderance" of the Union "in the deliberations of the general assembly, in view of the participation held by said group in the ordinary shares of the Company in circulation, which contradicts the legal and economic premises that underpinned the investment decisions of the market - including the thousands of workers holding FGTS accounts -, based on a model developed by the Union itself".
>>> Lula goes to the Supreme Court to protest the criminal privatization of Eletrobrás.
Eletrobrás was privatized by the ultraneoliberal government of Jair Bolsonaro (PL). In this model, the Union, despite being the largest shareholder of the company, has its rights reduced. The Union retains approximately 35% of the ordinary shares. However, according to the rule imposed by law, its voting power has been reduced to less than 10% of the voting capital.
The management further argues that "the privatization process of Eletrobrás faithfully followed all legally prescribed procedures." The reality is that the company was practically given away to private shareholders.
Finally, the document states that Eletrobrás' management will assess the appropriate measures to maintain everything as it is.