Colombian telco ETB is considering a share issue once it has established a set of strategic alliances, according to local media.
The Colombian newspaper El Portfalio reported today that the treasury secretary for Bogota’s municipal government, Hector…
Colombian telco ETB is considering a share issue once it has established a set of strategic alliances, according to local media.
The Colombian newspaper El Portfalio reported today that the treasury secretary for Bogota’s municipal government, Hector Zambrano, had said that ETB is considering a share issue in the medium term, once it has made some unspecified alliances.
Zambrano reportedly suggested that the issue was not only aimed at getting funds for the company’s growth, but also allow Bogota citizens and the general public to participate.
Zambrano reportedly said that it is part of the plan being considered by ETB’s board of directors and it is hoped that it would be made known before the end of the year.
This news came after ETB announced last week that it had reached an agreement to acquire the subscription TV company Ingelcom.
According to the newspaper report, Bogota’s municipal government now holds a 86.5% stake in ETB.
In July, the government rejected a plan to sell its stake in the telco.
