Business Services Industry
Entel capital cut goes to fund roadways construction.
South American Business Information, February, 2004
Bolivia, Feb 5, 2004 (La Razon/SABI via COMTEX)
The Bolivian government ruled the reduction on the assets of the telecoms Entel from US$710mil to US$490mil, and is to use 50% the US$220mil cash withdrawn from it to reinforce the FCC fund, while other 50% are to be sent to its parent Telecom Italia. The FCC is to be used to fund the construction of roadways. The Ministry of Public works has underway a program to erect 1,408 Km of roadways of which US$600mil funded by the Brazilian development bank BNDES.
Copyright (c) 2004, South American Business Information, All rights reserved.
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