For sale: one struggling telco. Price: ‘beans and sticks’

30 Aug 2012

Candido Aguilera, a lawmaker based in the Guaira Department in Eastern Paraguay, has reported to the House of Representatives that there are plans afoot to bankrupt state-owned telecoms operator Copaco and sell it on for ‘beans and sticks’. According to Aguilera detailed a series of financial problems facing the organisation, while also hinting that the purchase of mobile Vox was a ‘failure’. He commented: ‘We have documents showing that the conduct of Copaco is directly responsible for the serious crisis affecting the state company’. Among other things, operating revenues reportedly increased 96% year-on-year, reaching PYG24.732 billion (USD5.461 million) in 2011. The congressman urged President Federico Franco and Minister of Public Works and Communications Salyn Buzarquis to intervene in the matter.

Paraguay, Copaco