Hondutel to receive USD15m loan to bankroll voluntary retirement plan

10 Mar 2014

Financially-stricken state-owned telco Empresa Hondurena de Telecomunicaciones (Hondutel) is reportedly in line to receive loans worth HNL300 million (USD15.45 million) from private banks, in order to pay voluntarily retirement benefits to around 800 employees, local newspaper La Tribuna reports. Jesus Castellanos, director of the Controlling Commission, which was installed to manage the day-to-day activities of the telco, disclosed that the relevant documents will be sent to banks next week; the executive is confident that the loan approval will be granted shortly. Further, Castellanos noted that the company is still searching for a strategic partner to help keep its business afloat.


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