Bogota court halts ETB privatisation | IPTV | News | Rapid TV News
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Bogota’s Juzgado Cuarto Administrativo has suspended the privatisation process of Colombia’s public telco and IPTV provider ETB.

etb bogota 1 may 2017The court has invalidated the local plan that entitled the city council to sell its 86.6% stake in ETB. When the process started last May, a price of $800 million was set.

According to the local daily paper El Espectador, the decision follows the complaints from the company’s union and a city councillor, who pointed out several legal errors in the privatisation process.

The local government of Bogota has already announced that will appeal the sentence. The process was due to officially start in the second week of May by opening for workers, unions, mutual insurance companies, pension funds and cooperatives. By now, larger companies and other telcos would have been allowed to enter the tender.

So far, no company has officially stated any intention to acquire ETB, although both Millicom and Telefonica have been cited as possible buyers.