Colombian Capital to Privatize City Telco

FORT LAUDERDALE, FLA. (01/28/2000) - Bogotá, Colombia's capital city, plans to sell a 51 percent stake in Empresa de Telecomunicaciones de Santa Fé de Bogotá (ETB) in May, according to an official quoted by the Dow Jones news service this week.

Company President Sergio Regueros told Dow Jones that the base price for the 51 percent stake is US$719 million and that foreign companies will be allowed to bid.

Bogotá also plans to shed another 46 percent stake in ETB by selling a 41 percent stake to the general public and 5 percent to the public sector, according to the Dow Jones dispatch.

ETB has 85 percent of Bogotá's lines and 34 percent of Colombia's lines, according to Regueros.

ETB, in Bogotá, is at http://www.etb.com.co/.

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