Judge halts sale of Colombia public telecom ETB

Bogotá Mayor Enrique Peñalosa’s plan to sell a controlling interest in publicly controlled telecommunications company ETB has been put on hold by a judge.

The court ruling was based upon irregularities in the sale process initiated by the city, which owns 86.4 percent of the telecom that offers landline phone service, mobile plans, cable television, and internet connectivity. The Peñalosa administration said that the decision was also handed down because the process fails to show the direct relationship between the sale of ETB and the financing of the mayor’s development plan for the capital.

Source: Finance Colombia