State mulls Andinatel, Pacifictel share sale

22 Feb 2006

Ecuadorian state holding company Fondo de Solaridad (FS) is considering selling minority shares in its two national telcos, Andinatel and Pacifictel, in an attempt to raise some much needed capital, according to FS president Luis Bruzzone. The shares would be sold to the Ecuadorian public rather than strategic investors, contrary to ongoing rumours of a government plan for full privatisation of the telcos.