Correa gives Telecsa a year to turn business around

19 Jan 2009

Bloomberg reports that Ecuador will sell state-owned mobile operator Telecsa (Alegro PCS) if losses at the company continue to mount up, President Rafael Correa said. The country’s third largest cellco by subscribers, which lost USD200 million last year, has twelve months to improve its results or it will be sold off to the private sector, Correa said during his regular Saturday radio and television address. ‘The lack of responsibility of some executives has to stop,’ the president warned, adding that ‘losses can’t continue indefinitely.’

Ecuador, Telecsa (Alegro PCS)