Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS)

Shares in Brazil's Sabesp soar on Maia privatization remarks

Shares in Brazilian water utility Sabesp soared as much as 15% on Friday after a São Paulo state official suggested he was prioritizing plans to privatize the company. Sao Paulo Governor João Doria recently appointed former house speaker Rodrigo Maia to a role in his cabinet with a mandate to accelerate the state's privatization program. "I think it's a symbolic thing to organize the (Sabesp) privatization, the licensing, to get things going by the end of my term," said Maia, at his first press briefing in the role.