Sao Paulo’s Water Utility Gets Green Light for Privatization
- Government intends to reduce stake to between 15% and 30%
- Legislative approval marks win for Bolsonaro-allied governor
Photographer: Kenzo Tribouillard/AFP/Getty Images
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Latin America’s largest water utility got the green light to be privatized next year, in a win for right-wing São Paulo Governor Tarcisio de Freitas, who has pledged to improve public services.
State legislators approved a public share sale for Cia. de Saneamento Basico do Estado de Sao Paulo, known as Sabesp, by a wide margin Wednesday. Shares fell as investors await details on next steps.