Business News Americas | March 10, 2011 | Juan Pedro Tomás
The possible sale of Colombia telecoms operatorETB is very unlikely to happen this year, Yankee Group principal analyst for Latin America, Wally Swain, told BNamericas.
According to local press reports, the company’s shareholders may decide to launch the process of selling the operator in their next meeting, which will take place March 22. The Bogota municipal government currently holds 86.6% of the company, while minority shareholders have the remaining 13.4%.
“Whatever the board may decide, it’s unlikely the company will be sold this year given that it’s an election year and the current mayor faces political challenges with major projects,” Swain added. “ETB needs to be sold, but it will be politically difficult this year.”
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