The federal government says that the “purpose of the action is not the renationalization of Eletrobras.| Photo: Fernando Frazão/Agência Brasil.

The Attorney General’s Office (AGU) filed this Friday (5) a lawsuit at the Federal Supreme Court (STF) to overturn Eletrobras’ privatization points. The Direct Action of Unconstitutionality (ADI) was also signed by President Luiz Inácio Lula da Silva (PT). The government asks for the suspension of the rule that determines that any shareholder of the company has a maximum of 10% of the voting power in the assemblies. The Union owns 42.6% of the shares.

“This is because the Union, even after the privatization of the company, which took place in 2022, although it continues to be its largest shareholder, had its political rights drastically reduced by a measure ‘unjustifiable from a legal-constitutional point of view’”, said the AGU, in note.

In the petition, the government emphasized that the “purpose of the action is not the renationalization of Eletrobras, which will continue to be a company under private management, but rather the protection of the public interest”. In March, Lula criticized the privatization of the company and said that the initiative was a “crime against the country”.

In the social media, the Advocate General of the Union, Jorge Messias, commented on the action. “The public power owns almost 43% of the common shares, but can only exercise votes up to the limit of ten percent of the number of shares in the company’s voting capital. We are confident that the Court will return to the Union the prerogative to fully exercise its political rights in this giant of the national electricity sector”, said Messias on Twitter.