Brazil’s Deputies approve bill that allows privatization of Correios

The privatization of state-owned companies to private hands may generate investments of R$367 billion (US$70.442 billion).

RIO DE JANEIRO, BRAZIL - The Brazilian Chamber of Deputies approved a bill that allows the privatization of Correios (Brazil Postal Service), responsible for mail deliveries in the country and considered one of the world’s largest companies in the delivery sector.

The approval, by 286 votes in favor and 173 against, authorizes the sale of the state-owned company to private initiative through an auction and represents a victory for the government of President Jair Bolsonaro.

The privatization of the Brazilian Post and Telegraph Company is included in the list of 115 assets to be sold or offered in concession . . .

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