Bogota to sell majority stake in ETB

The city of Bogota will sell its 86.6% stake in Empresa de Telecomunicaciones de Bogota (ETB), the mayor’s office has announced. After two unsuccessful years of searching for a ‘strategic partner,’ the mayor’s office has decided in favour of straight privatisation. Cristina Plazas, a close aide to ETB’s president, Manuel Santos, told Bloomberg that the mayor’s office is convinced that selling the business is the best option. Plazas was asked to step in for Bogota’s mayor, Maria Fernanda Campa, after she declared a conflict of interest as an ETB stockholder.