Costa Rica’s Instituto Costarricense de Electricidad (ICE) issued a statement today saying that it would be creating a joint operating committee with Racsa to help strengthen its subsidiary. Racsa had been straining at the leash to gain its independence…
Costa Rica’s Instituto Costarricense de Electricidad (ICE) issued a statement today saying that it would be creating a joint operating committee with Racsa to help strengthen its subsidiary. Racsa had been straining at the leash to gain its independence from the utility provider and develop Costa Rica’s internet and telecom capacity. However, this declaration of independence was stultified when ICE’s executive president, Eduardo Doryan announced to local media that he would be taking-over Racsa and absorbing its activities into ICE. This prompted the resignation of Racsa’s general manager, Alberto Bermudez in protest. Bermudez withdrew his resignation three days later. This announcement seems to have dampened down the animosity between Doryan and Bermudez and makes it more likely that Racsa will get the US$360m it needs to invest in a high speed internet network in Costa Rica.
“We have been working hard to define instruments of mutual benefit with which we can strengthen our company, and the ICE Group, for when the telecommunications market is to be opened. Progress has been highly satisfactory and cordial,” said Bermudez in a company statement.
