Telecom Italia talking informally with Bolivia over Entel stake |
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Published
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Tue, 30 Jan 2007 13:21
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MILAN (AFX) - Telecom Italia SpA says it's talking with the Bolivian government over a possible sale of the stake it holds in the country's telecommunications operator Entel but as yet there are no formal negotiations.Telecom Italia previously said Entel is not a strategic asset for the group.Telecom Italia holds a stake of just over 50 pct in Entel through a holding company controlled by its mobile unit TIM.Bolivia's President Evo Morales is considering nationalising Entel, the Bolivian news agency ABI reported, citing comments by Morales.Morales said his government is currently examining the nationalisation of Entel with lawyers.Telecom Italia bought its stake in Entel in 1996 for a sum of around 610 mln usd.Press reports in Bolivia have suggested that Telecom Italia is ready to sell control of Entel to the Bolivian state for 170 mln usd.Aside from Telecom Italia's stake, 44 pct of Entel is held by pension funds in the hands of Banco Bilbao Vizcaya Argentaria SA and Zurich Finance.stephen.jewkes@thomson.comsj/jagCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Bolivia's Morales mulls nationalisation of telecoms operator Entel 