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Telefonica del Peru contract to be defined next week, daily says
By Manuel Vigo
January 17, 2013
Telefónica del Peru’s future in the country is expected to be settled next week, after two years of negotiations between the Peruvian government and the Spanish telecom giant.
According to Peru21, Telefónica is preparing a definitive answer, which it will hand over to Peru’s ministry of transport and communications, over the next days.
An unnamed ministry source told the daily, that the Spanish firm considers the government’s terms to be “pretty severe.”
Over the course of negotiations, Telefónica has been vocal about its interest in remaining in the country.
"Soon we will have news. Telefónica is keen to continue with the contract. I can only say that we are in the final stage of negotiations," said Eduardo Devoto, head of the firm’s institutional relations.
Last month Telefónica transferred almost 50 percent of the shares from its Peruvian subsidiary into the firm’s Latin American holding company, as part of an internal deal worth $1.5 billion, and unprecedented transaction for Lima’s Stock Exchange (BVL).
At the time the firm said the deal had been done for “internal reorganization purposes,” and said the deal “does not constitute a change in control at Telefónica del Peru.”
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Total coments: 3
Commented By: tolver
On: January 18, 2013. 1:38 am
I hope they sign an agreement soon to end this uncertainty and avoid a disruption of services.
Commented By: Jimmyjames
On: January 18, 2013. 1:59 am
With each story of this sham deal coming to closure, comes more waiting. Telefonica wants keep their high profit crap service. Let the competitors IN.
Commented By: Joel
On: January 17, 2013. 6:37 pm
Considering the two soup can and string service Telefonica delivers and the monopolistic payoff environment, it 's no wonder Peruvians are ripped off from two directions. Direct TV delivers high speed internet and TV in the us without wires. So what is the problem? Is somebody making too much money keeping quality from the public?
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