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February 27, 1994

CONTRACTS READY FOR PERUVIAN TELEPHONE COMPANIES STAKE

By CBR Staff Writer

Three of the five consortia qualified to bid for the Peruvian government’s shares in two telephone companies have presented signed contracts to the telephone privatisation committee, Reuter reports from Lima: they include the GTE International Telecommunications Inc subsidiary of GTE Corp with Companhia Portuguesa Radio Marconi SA and Empresa Brasileira de Telecomunicacoes; the Southwestern Bell International Development subsidiary of Southwestern Bell Corp with Korea Telecom, Daewoo Telecom Ltd, Mexico’s Grupo Condumex SA – which holds a stake in Telefonos de Mexico SA – and Banco de Credito Overseas Ltd, an offshore unit of Peru’s largest bank; and Telefonica de Espana SA with Peru brewery Cerveceria Backus & Johonson SA, Peru’s Banco Wiese Ltd banking group and the Grano y Montero SAconstruction firm; the two other consortia that had presented documents, one led by AT&T Co and the other by France Telecom with Stet SpA did not present contracts, the source added; the consortia that put in signed contracts will eligible to bid on February 28 for the state’s 19.9% stake in Compania Peruana de Telefonos and 35% of its 100% holding in Entel Peru SA – the balance of the Entel shares will be held in a trust and sold gradually.

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