Telecom Italia has sold its entire 27% stake in Cuba’s majority state-owned telco ETECSA to Cuban investment group Rafin for US$705m.
Of this sum, US$500m has already been paid by Rafin, and the remainder will be paid by ETECSA in 36 monthly…
Telecom Italia has sold its entire 27% stake in Cuba’s majority state-owned telco ETECSA to Cuban investment group Rafin for US$705m.
Of this sum, US$500m has already been paid by Rafin, and the remainder will be paid by ETECSA in 36 monthly installments.
Cuba’s Ministry of Information and Communication owns the rest of ETECSA, which provides telephony, internet and wireless services.
TI and Rafin were unable to comment before the press deadline.
