Telebras set for privatisation

State-backed Brazilian telco Telebras is set to be privatised, TeleSintese reports, citing a statement sent to the Securities and Exchange Commission of Brazil (Comissao de Valores Mobiliarios, CVM). The privatisation guidelines have been drawn up by the Interministerial Council of the Partnership and Investment Programme (Conselho Interministerial do Programa de Parcerias e Investimentos, CPPI), while a public bank is expected to manage the process. The Ministry of Economy will be in charge of selecting the bank in question. TeleSintese notes that the telco was earmarked for privatisation back in August 2019.