Government to intervene in running of Hondutel

The government of Honduras this Tuesday reportedly approved the intervention into the running of the country’s struggling national PTO Hondutel, online journal Telesemana reports. The 120-day intervention, which may be extended by the president of Honduras, was presented by the Minister of Finance Carlos Borjas and states that whilst Hondutel will continue to operate, maintain, expand and modernise telecommunications services nationally and internationally, the commission will have the power to manage and be the top decision-making body of Hondutel, in all that regards its operation, development and operation. As such, the commission shall submit to the government a report assessing Hondutel’s position, within the next 60 days, with a rescue plan to improve the running of the business, including its infrastructure, operational and financial performance. The telco is currently losing an estimated USD1 million per month and lost its managing director Romeo Vasquez Velasquez this month, who resigned to continue his political career.