Saturday, April 26, 2008

Bolivian business briefs #1

And now a list of the business news making the rounds on the Bolivian dailies:

The government’s takeover bid on Transredes.- The GOB has finalized an offer or $40 per share held by minority shareholders of the natural gas and oil transport company. YPFB already holds a position on Transredes and is attempting to reach a majority stake in the company; Ashmore Energy International has made a counter-bid of $50 per share. Other international holding companies are involved, and developments are expected in the following days. [SP].

COMTECO’s successful bid on Elfec.- The Cochabamba-based telecom cooperative has successfully acquired a 52 percent stake on the regional electricity provider Elfec. The deal closed for $US 17 million in cash, tax and debt payments assumed by COMTECO. Previous bids were made on the national telecom company ENTEL, and a local cellular phone service provider VIVA. Previously COMTECO also attempted to launch its own cellular phone service but was met with opposition from regulatory authorities. The daily Opinión has an excellent interview with Fernando Gamboa, an executive of the acquiring company. [SP]

CBN under close watch on unfair competition charges.- The national brewery company has faced unfair competition charges (on purported “forced” exclusivity contracts) as of late, and the case is under scrutiny by regulatory agencies. [SP]

Lloyd Aéreo Boliviano receives additional aircraft.- The national carrier LAB is in the process of incorporating one Boeing 727-200 aircraft in a bid to restart its services in the following weeks. The leasing company is unknown at this time although it’s known that the aircraft belonged to the recently closed Champion Air US carrier. With the addition of this plane (which arrived to CBA on 04/23/08) LAB has two aircraft readily available for charter operations. [SP]

FEICOBOL opens its doors again.- The XXV version of Cochabamba’s international business fair -Feicobol- will open its doors between the 24th of April and the 4th of May, close to 750 companies will be present. [SP]


eduardo said...

welcome back.

LAB should just pack it in. After the accident in Trinidad, I certainly wouldn't trust them again, with their poor service even before all of these troubles, that was just last straw.

eduardo said...

welcome back..

I think LAB should just pack it in. With their poor service before all of these troubles, and all of this mess, the plane crash in Trinidad was the last straw in my eyes. I certainly wouldn't fly with them again. Even though Aerosur has its share of problems, it is the best alternative we have.