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NotiCen PDF file 1997 right arrow Dec

Guatemalan Government Fails to Sell Telecommunications Monopoly

ISSN:1089-1560
LADB Article ID: 54938
Category/Department: Guatemala
Date: 1997-12-18
By: LADB Staff

On Dec. 16, the Guatemalan government rejected an offer by Telefonos de Mexico (TELMEX) to purchase the Guatemalan telephone monopoly Telecomunicaciones de Guatemala (TELGUA) for US$529 million because the price offered was below what the government hoped to earn from the sale. The auction's failure represents a major setback in government efforts to sell state firms, since TELGUA is considered the crown jewel in the privatization program.

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