The Telefónica de Pereira (TP) and Emtelsa of Manizales have decided that they would not participate in the new company that seeks to integrate different telecommunication branches of Empresas Públicas de Medellín (EPM). The telco of the Eje Cafetero argue that the integration of the new company would reduce Pereira`s municipal participation by 4% and Manizales by 2%, which currently have 43.8% and 45% of the Telcos`.
Pereira`s mayor, Juan Manuel Arango Vélez, foresees to sell the municipality’s stock participation. The City Counsel assured, that if the project is approved, the company would be sold to the highest bidder. On the other hand, Manizales` mayor, Luis Roberto Rivas Montoya, highlighted that the municipality is ready to purchase EPM`s participation in Emtelsa or, vise versa, sell its stocks to the company. The official underlined that he has a value and an estimated price of Emtelsa, and in addition, he is analyzing alliances with other telecommunication companies to purchase EPM.