ETB, EPM Postpone Ola Auction, Entel Bid in Doubt"

Colombian municipally owned telcos ETB and EPM have postponed the auction of a 50% and one share stake in their mobile unit Ola until August 31, staff at ETB confirmed for BNamericas.

The original date was set at August 11. In the meantime board members met on Tuesday, August 8, to confirm whether the candidates meet the bidding requirements.

They were also expected to confirm on Tuesday whether Chilean mobile operator Entel PCS has pulled out of the bidding. The other two candidates are Caribbean mobile group Digicel and European mobile holding company Millicom International Cellular.

Assuming the candidates qualify as bidders, ETB and EPM will revise the bidding rules and publish the definitive draft on August 18, which the candidates may study until August 28 before confirming whether they will bid. Such confirmation must be accompanied by a financial guarantee. Also on August 28, ETB and EPM will announce the minimum bid for the Ola stake.

BNAmericas.com"

Posted to the site on 9th August 2006