Panamanian government could sell part of its C&WP stake

20 Mar 2012

The Panamanian government is mulling the sale of part of its 49% stake in former monopoly fixed line provider Cable & Wireless Panama (C&WP), BNAmericas reports, citing local press reports. It is understood that the state is considering the stake sale as part of wider plans to divest stakes in a number of public-private companies with a view to using any funds raised to finance infrastructure projects, including improvements in the country’s drinking water system. The report cites Panama’s economy and finance minister Frank De Lima as saying that the government could sell off 5% of its 49% stake in C&WP, with news site Entorno Inteligente adding that the minister had noted Cable & Wireless Communications (CWC), which owns the other 51% stake in the Panamanian telco, would have the first option to purchase the holding should it be put up for sale.