Bogota city government seeks to sell controlling stake in ETB

viernes 29 de abril de 2016 12:29 GYT
 

BOGOTA, April 29 (Reuters) - The government of Colombia's capital Bogota will seek permission from the city council to sell its more than $600 million controlling stake in telecommunication company Empresa de Telecomunicaciones de Bogotá, the company said on Friday.

The city owns 3 billion shares in ETB, some 86.6 percent of the company. At current stock prices, the stake is worth around 1.87 trillion pesos ($648.8 million).

ETB shares were up 1.5 percent on Friday on the Colombian stock market to 609 pesos a share.

($1 = 2,885.72 Colombian pesos) (Reporting by Nelson Bocanegra,; Writing by Julia Symmes Cobb; Editing by Chizu Nomiyama)