ETI expecting resolution of Entel issues by early 2009

9 Sep 2008

Telecom Italia owned holding company Euro Telecom International (ETI) has stated that it expects the conflict over the re-nationalisation of Bolivian telco Entel to be resolved by the beginning of 2009, BNamericas is reporting. Despite the Bolivian government’s refusal to acknowledge the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) authority in the matter, Telecom Italia’s head of domestic market operations and international affairs has indicated that an arbitration court to rule on the case will be appointed by the end of September; the ICSID’s role will be to determine the value of Entel. A supreme decree issued by Bolivian President Evo Morales in May 2008 stated that the government could discount any outstanding debts that Entel held from the price it would pay for the company, but ETI has contested this.