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Honduras: Seeking an investor in Hondutel Print E-mail
Tuesday, 09 May 2006
Honduras is again seeking an investor in state-owned telecommunications operator Hondutel, five years after it rejected a bid from Telefonos de Mexico (Telmex).

"We are looking for a minority international strategic partner," Finance Minister Hugo Noe said.

Telmex was the only bidder for 51% of Hondutel in 2000, when it offered US$ 106 million for the stake. The government rejected Telmex's bid the following year because it was considered too low.

Hondutel is the leading fixed-line phone provider in the country and one of two profitable state-owned companies. Its assets are worth around US$ 600 million and the company intends to start offering mobile services soon.

Congress is currently considering legislation to open the international long-distance market to competitors. This segment accounted for about 60% of Hondutel's revenue last year. Noe said the government is still deciding how to go about selling a stake in Hondutel.

Source: Reuters - WDR/Intelecon Regulatory News