01:59 PM EDT, 04/29/2025 (MT Newswires) -- Eletrobras (EBR) shareholders have approved a plan to settle a legal fight over the Brazillian government's voting rights in the company, Reuters reported Tuesday.

Under the agreement, the government will be allowed to appoint three out of the company's 10 board members, the media outlet reported.

A new board of directors is expected to be elected by shareholders later the same day, Reuters reported.

Eletrobras did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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