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Honduras to sell 51 percent of state telecoms firm

Friday, September 20, 2013

The Honduran Government announced plans to privatize 51 percent of its national telecoms provider, Hondutel, within 120 days.

The Government is seeking to speed up the process in order to reduce public expenses and solve Hondutel's crisis.

"We intend to create a company where a private investor could have 51 percent of shares, the Government 22.5 percent and the employees another 22.5 percent," said Rigoberto Romero, president of the public commission which is working on setting a price for the shares.

Source: Rapid TV News