The CCR unit will use the US$15mn in proceeds to reinforce its cash position.
Using highway tolls is one option on the table, according to a report.
The firm was due to be auctioned on September 26
The country's new president will take over in January.
The government measure is generating huge controversy in Brazil.
The veto creates an impasse as the money to be raised from the privatization was destined to help tackle the Brazilian state government's fiscal shortfall.