Enitel stake fails to reach reserve

18 Dec 2003

The Nicaraguan government has set a reserve price of just under USD50 million for the 49% stake it is selling in fixed line incumbent Enitel. So far just two preliminary bids have been received for the shareholding, from Mexico’s América Móvil and Swedish-Honduran joint venture Megatel, both of which failed to reach the asking price. The state has said it will invite second bids from both parties on 24 December.