Colombian newspaper La Republica is suggesting that Empresa de Telecomunicaciones de Bogota (ETB) will continue its search to find a strategic partner this year. Citing an unidentified source familiar with the process, the daily paper reports that the matter will be discussed at the company’s next investor meeting, to be held on 22 March.
In the most recent attempt to place a minority stake of ETB in private hands – held last September – the company failed to attract even a single bidder. Investors are now speculating that the size of the stake will be increased, so as to give the incoming investor a more desirable controlling stake. America Movil and Telefonica, which both already have a presence in Colombia, are oft named as possible purchasers.