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General

Ecuador's CNT postpones concession tender, to sell tower assets

Thursday 7 January 2021 | 10:02 CET | News
Ecuador's state-owned operator CNT has decided to postpone plans to hold a tender that would see a private partner taking over operational control of the company, reports local daily El Universo. In 2019, the company hired Ernst & Young (EY) as advisor to help it find a private sector partner for a 20-year concession to operate CNT at an expected cost of USD 4 billion. However, market weakness following the coronavirus pandemic has prompted a rethink, with CNT now looking to divest non-strategic assets such as towers to reduce costs and raise funds, said the report.

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Categories: General
Companies: CNT
Countries: Ecuador
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