Seven buy bidding rules

9 Oct 2003

Ecuadorian state holding company Fondo de Solidaridad has revealed that seven companies bought bidding rules for contracts to manage Andinatel and Pacifictel. The seven include Telefónica (Spain), Telecom Internacional Management Group (US), EPM (Colombia), Telecom Italia (Italy), Interestate (US) and local firms Baesuno and Coral & Rosales. Pre-qualification documents must be submitted by 30 October, with a list of qualified bidders expected to be released by 4 November. Participants must post a USD3 million bid guarantee, as well as a USD10 million guarantee that it will meet the terms of the three-year management contract.