Plans by Honduras’ government-owned telco Hondutel to find a strategic partner have reached a stalemate over the size of the stake the state will give up.
In early September Hondutel said in a statement that it wanted to team-up with a private company…
Plans by Honduras’ government-owned telco Hondutel to find a strategic partner have reached a stalemate over the size of the stake the state will give up.
In early September Hondutel said in a statement that it wanted to team-up with a private company to provide investment and expertise in its mobile division, enabling it to better compete against its rivals. Claro, Tigo and Digicel are its competitors for mobile customers.
It said it was willing to sell 49% of its mobile unit to a potential partner.
However, local newspaper La Tribuna reported that potential investors are seeking a majority stake of 51%.
In its statement earlier in the month, Hondutel was adamant it would keep a controlling stake and Orlando Meija, president of the Union of Workers of Hondutel, has been cited by La Tribuna reiterating this wish, saying that Hondutel should set the terms of foreign investment.
La Tribuna listed interested potential partners: Israel’s LR Group, Rhino Communications from the US, a Chinese/Guatemalan consortium of Datang and Fideco, Guatemala’s Continental Towers, Antel, or an unnamed Italian company.
In August it was reported that Hondutel needed US$500m in investment to be competitive because of financial problems.
Allegations of fraud and corruption have dogged the state-owned company for years.
