Cotas says talks to acquire 50% of Entel progressing well

23 Sep 2005

Ronald Castedo, the President of Santa Cruz telecom cooperative Cotas, says that talks to purchase a 50% stake in local telecoms operator Entel from Telecom Italia are progressing well, and that the collective is awaiting a decision from the Italian company on its offer to buy the shares. The El Diario newspaper, quoting Castedo, writes: ‘The negotiations taking place for years with Entel executives have moved ahead and they could come to a positive outcome in the next few months.’ Earlier this week Entel shareholders took the decision to reduce the company’s equity by USD400 million through a dividend distribution, increasing speculation that Telecom Italia is ready to sell the asset.

Bolivia, Empresa Nacional de Telecomunicaciones (Entel)