Rochester, NY 8/18/2009 12:21:06 AM
Centrais Electricas Brasileiras S.A. EBR - Eletrobras announces its Shares Conversion Lawsuit Results
Centrais Electricas Brasileiras S.A. EBR
Centrais Electricas Brasileiras declared the lowest earnings this month in Sao Paulo trading. By a court decision was reported that the Brazil’s biggest electric utility paying 60 billion reais ($33 billion) to industrial customers.
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Eletrobras, as the Rio de Janeiro-based company is known, fell 1.4 percent to 27.99 reais at 11:29 a.m. New York time.
“The cost will depend on how many lawsuits will come after this if the court rules against us,” Chief Executive Officer Jose Muniz told reporters yesterday in Rio de Janeiro. “We are very apprehensive.”
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