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Brazilian São Paulo state's Diadema city council will hold a public hearing on Monday (Jul 4) regarding a proposed merger of the city's water utility Saned with state water utility Sabesp (Bovespa: SBSP3, NYSE: SBS).
The matter was due to be voted on Thursday (Jun 30) but was postponed to allow for a public consultation, local paper Diário do Grande ABC reported.
The proposed merger would involve creating a new Diadema utility with capital divided between the city government and Sabesp, according to the report.
Diadema is located in the São Paulo metropolitan region, just south of the state capital.