Monday, February 14, 2011

Cuban government studies Etecsa stake sale

Cuban government studies Etecsa stake sale
Monday 14 February 2011 | 11:11 CET

Havana-based financial company Rafin, owned by Fidel and Raul Castro, is
studying the possibility of selling its 27 percent stake in Cuban
operator Etecsa. Rafin acquired the 27 percent Etecsa stake from Telecom
Italia at end-January. Rafin now plans to resell this stake to a foreign
operator, Ansa reports, citing deputy minister of Informatics and
Telecommunications Jorge Luis Perdomo. "It is currently being decided
whether Cuba keeps this stake or sells it to a foreign operator", said
Perdomo. In any case, "the country's strategy – with or without foreign
participation [in Etecsa] – is to have sovereignty over the
telecommunications sector."

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