Brazil's Congress Passes Bill to Privatize Electric Utility

BRASILIA, BRAZIL - Brazil's Congress passed a bill Monday paving the way to privatize the biggest electric utility in Latin America, state-controlled company Eletrobras, in a victory for far-right President Jair Bolsonaro's privatization agenda. 

The bill, which sets up a share issue that will dilute the government's stake in the company, passed the lower house by a vote of 258 to 136.  Lawmakers must still vote on a series of amendments before sending it to Bolsonaro.  It had already passed in the Senate.