Nicaragua:
Announces its Privatizations Plans for the Communications Sector
Source: EFE
Managua, 28 January 1998. Nicaragua's Telecommunications Minister, Pablo Ayón, has announced that this sector will be completely privatized in a period of four years after the State sells 61 per cent of the company's shares.
In declarations to EFE, the minister said the workers will have the right to 11 per cent of the Nicaraguan Telecommunications (ENITEL) shares.
Ayón said that some modifications to the company's privatization law broaden the opportunities to purchase its properties by also incorporating investment companies that are not necessarily communications operators.
The minister said that the value of the ENITEL shares, according to the accounts books, is about 600 million córdobas (60 million dollars).
At the end of February or next March, the government will publicly invite the enterprises or companies interested in buying the Nicaraguan communications industry to make an initial evaluation prior to the auction process, which may be concluded by the end of this year.
