Honduras’ ailing state-owned national PTO Hondutel (Empresa Hondurena de Telecomunicaciones) has announced plans to establish a joint venture (JV) to offer a dedicated mobile broadband service in the country. CentralAmericaData writes that the PTO will be the majority shareholder in the new venture, and quotes Hondutel director Romeo Vasquez Velasquez as saying that the new business model will help the firm out of its current financial crisis, made worse by a lack of investment. ‘The only alternative we have is to open [Hondutel’s] doors to any [business or individual] in the country [or abroad] wanting to invest in our mobile broadband service to develop and improve the company’s future income streams. And we are working on it,’ Romero Velasquez said. It is believed that setting up such a venture in Honduras would require investment of around USD500 million.
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