ETB Back on the Block

ETB Back on the Block

Colombia

Colombia telecom Empresa de Telecomunicaciones de Bogota (ETB), which is controlled by Colombia's capital city, is back on the auction block after its board of directors recommended that the city sell its stake, a banker on the deal confirms. The board says that ETB doesn’t have the capacity to generate the funds to undergo the projects needed to create future value. Bogota owns about 88% of the company, which is valued at around $1.3bn, according to local press reports. ETB has been on and off

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