100% Colombian: 'Cali-phone-ication' deal proposed

The mayor’s office and board of supervisors of Cali have proposed putting a 49% stake up for sale in the municipally owned multi-utility company EmCali, reports BNamericas. A further 15% would be made available for Cali residents to purchase. According to public services regulator Superservicios, EmCali requires new investment in a bid to stave off competition from national and international players which ‘represent an imminent risk to EmCali’s viability’. The company has more than 500,000 fixed lines in service and around 700,000 broadband subscribers.