Emcali suspends hunt for strategic partner

9 Aug 2010

Colombian city-owned utility operator Empresas Municipales de Cali (Emcali) has suspended the search for a strategic partner to recapitalise its telecoms business under the Telecali banner, reports local news source El Tiempo. The process of restructuring the telco via a capital injection, with pre-qualified applicants reportedly including the local branches of Mexico’s Telmex and Spanish group Telefonica, was put on hold by a decision from the Committee of Directors of the auction process. A statement said that an order was issued to suspend the capital bonding process, ‘to review and respond to certain requests [including those] made by the pre-qualified applicants, all in order to clarify and specify certain structural details and some other items of interest to individuals who have been participating very actively in this process.’ Emcali reiterated its commitment to completing the restructuring of its telecoms business via Telecali Capital, with the aim of ‘ensuring its future viability for the benefit of users of its services.’