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Post by livinginmedellin on May 24, 2016 7:35:53 GMT -5
With 11 votes in favor and 4 against, the commission plan of the Bogota Council approved the sale of the shares Empresa de Telecomunicaciones de Bogotá (ETB). The sale of the ETB has been one of the most controversial points in the city's plan, given that it is considered that this is one of the greatest assets of the city. The goal of the city administration is to reinvest the proceeds from the sale of ETB in the city's infrastructure plan for mobility, health and education. See (in Spanish): www.eltiempo.com/bogota/venta-de-la-etb-fue-aprobada-por-el-concejo-de-bogota-en-plan-de-desarrollo/16601515The mayor of Bogotá, Enrique Peñalosa Londoño, has reportedly wanted to sell ETB to help fund infrastructure projects in Bogotá. We may see a foreign telco interested in buying ETB. For example, I am aware the Entel in Chile has been interested in entering the telco market in Colombia.
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Post by scumbuster on May 24, 2016 12:16:45 GMT -5
Ac good portion of the funds will probably end up in a Panama bank account. Politicians just love to get piles of money. But in 5 years will there be anything to show for it?
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Post by livinginmedellin on May 24, 2016 15:29:34 GMT -5
Ac good portion of the funds will probably end up in a Panama bank account. Politicians just love to get piles of money. But in 5 years will there be anything to show for it? Place your bets now if Bogotá will ever get it's metro that they have been talking about for many years - at least a decade now with nothing yet.
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Post by jafo19d on May 24, 2016 16:12:52 GMT -5
The city has no business owning a telecom
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Post by scumbuster on May 24, 2016 16:37:54 GMT -5
Ac good portion of the funds will probably end up in a Panama bank account. Politicians just love to get piles of money. But in 5 years will there be anything to show for it? Place your bets now if Bogotá will ever get it's metro that they have been talking about for many years - at least a decade now with nothing yet. I think they missed there chance to do the metro. The time to do it was when the economy was doing well and oil was at $115 brl. There are tough years ahead for the budget so I think they missed there window. They do need one badly though. Traffic is unbearable.
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Post by livinginmedellin on May 24, 2016 16:58:07 GMT -5
The city has no business owning a telecom Exactly and ETB has so much dead weight management since it is inefficiently city-owned that it is difficult to get much done. Plus they could never compete with the big telecos in Colombia - Huge Mexico-based America Movil operating as Claro and huge Spain-based Telefonica operating as Movistar. Cali also has a small city-owned telco and electric/water provider for the city, Emcali .
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Post by livinginmedellin on May 24, 2016 17:02:01 GMT -5
Place your bets now if Bogotá will ever get it's metro that they have been talking about for many years - at least a decade now with nothing yet. I think they missed there chance to do the metro. The time to do it was when the economy was doing well and oil was at $115 brl. There are tough years ahead for the budget so I think they missed there window. They do need one badly though. Traffic is unbearable. Perhaps Bogotá needs to use China's Futuristic 'Straddling Bus' that won't take up road space as cars can go under it. See: www.citylab.com/tech/2016/05/can-chinas-futuristic-straddling-bus-finally-become-a-reality/483953/. That is a "pie in the sky" concept, which is appropriate for Bogotá's "pie in the sky" metro system.
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Post by billyb on May 24, 2016 17:39:42 GMT -5
The city has no business owning a telecom Exactly and ETB has so much dead weight management since it is inefficiently city-owned that it is difficult to get much done. Plus they could never compete with the big telecos in Colombia - Huge Mexico-based America Movil operating as Claro and huge Spain-based Telefonica operating as Movistar. Cali also has a small city-owned telco and electric/water provider for the city, Emcali . I agree also. My concern is that the crooks on both sides of the deal are going skim so much of tbe top before the deal goes through.
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