Uruguay: on Privatization Plans Barbara Khol

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Uruguay: on Privatization Plans Barbara Khol

University of New Mexico UNM Digital Repository NotiSur Latin America Digital Beat (LADB) 10-15-1991 Uruguay: On Privatization Plans Barbara Khol Follow this and additional works at: https://digitalrepository.unm.edu/notisur Recommended Citation Khol, Barbara. "Uruguay: On Privatization Plans." (1991). https://digitalrepository.unm.edu/notisur/7394 This Article is brought to you for free and open access by the Latin America Digital Beat (LADB) at UNM Digital Repository. It has been accepted for inclusion in NotiSur by an authorized administrator of UNM Digital Repository. For more information, please contact [email protected]. LADB Article Id: 064614 ISSN: 1060-4189 Uruguay: On Privatization Plans by Barbara Khol Category/Department: General Published: Tuesday, October 15, 1991 On Oct. 4, several media sources in Montevideo reported that the French company France-Telecom is interested in acquiring a stake in the state-run telephone company Antel (Administracion Nacional de Telecomunicaciones). ANTEL is considered one of Latin America's most sophisticated telephone companies, and is worth over US$560 million. In the past six years, the government spent US$303 million on the nation's telecommunications system, and plans to spend nearly US $130 million in 1991-1992. Privatization legislation, approved by the national congress on Sept. 27, authorizes foreign ownership of up to 49% of ANTEL stock. The government will continue to regulate and supervise telecommunications services. Bidding for shares in the state-run airline Pluna is also expected. Pluna currently operates flights to Europe, the US, Rio de Janeiro (Brazil), Santiago (Chile), Asuncion (Paraguay), and Buenos Aires (Argentina). According to congressional sources, the company's financial situation and and the need for fleet upgrade and expansion make private investment mandatory. Pluna's fleet consists of four planes, a leased 707, and three 737s. On Oct. 11, Carlos Catt, director of the Planning and Budget Office, told reporters that the government will consider the eventual privatization of any service currently operated by the government. Catt's office is in charge of implementation and supervision of recently approved privatization legislation. In addition to ANTEL and Pluna, Catt said the electricity company (UTE) and the water treatment/ distribution company (OSE) are scheduled for the first wave of privatizations. Catt told reporters that the government will seek to privatize grain silos and storage facilities located at the nation's ports which are currently operated by the Livestock, Agriculture and Fisheries Ministry. According to a report by the Agence France-Presse, by Oct. 17, Italian telephone company Stell, Spain's state- run phone company, and US companies Nymex, Bell Atlantic and Bell South had also expressed interest in acquiring ANTEL stock. (Basic data from AFP, 10/07/91, 10/17/91) -- End -- ©2011 The University of New Mexico, Latin American & Iberian Institute. All rights reserved. Page 1 of 1.

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