Bolivian telecoms coop Cotel has been taken over by its auditor as part of a restructuring process, reports a government news site.
The official, Angel Zaballa, reportedly found that Cotel needs restructuring because of disorganization, and mistreatment…
Bolivian telecoms coop Cotel has been taken over by its auditor as part of a restructuring process, reports a government news site.
The official, Angel Zaballa, reportedly found that Cotel needs restructuring because of disorganization, and mistreatment of customers and members.
The process will begin with an election for the board of directors on 29th August. Under the new guidelines, candidates for the election may not be employees of Cotel, part of the auditing team or officials from the ministry of work or government tax office.
Zaballa has called for the 160,000 members of the cooperative to take part in the elections in order to make it a fair and legal process.
The pay scale within the cooperative will be reorganized in order to address complaints from partners that some members of the union are receiving excessively high salaries.
The company could go bankrupt by the close of this year if mismanagement continues, according to previous reports from the government.
