BNP Paribas wins Enitel sale contract
Bnamericas Published: Thursday, July 03, 2003
Nicaragua's government has decided to award French bank BNP Paribas a contract to complete the privatization of fixed line operator Enitel, the head of Enitel shareholding unit Uretel told BNamericas. The World Bank confirmed approval of the decision on Wednesday, Uretel chairman Carlos Fernandez said, adding he was pleased to award the contract to a bank of global standing. BNP Paribas outbid Spain's Santander Central Hispano (SCH), but Fernandez declined to say how much either bid, saying only that BNP Paribas and Uretel will now negotiate the finer details of the contract. The eventual sale of the government's 49% stake in Enitel is expected to take place early November. The government began the privatization of Enitel with the sale of a 40% stake to the Megatel consortium in 2001. The consortium, formed by Honduran power company Emce and Swedish telco Telia Swedtel, bid US$33mn. Government holding company Uretel holds the 49% stake now up for sale and Enitel employees hold the remaining 11%.
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News in: ICT (Nicaragua)
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