Previous Story
Auction of State assets
Posted On 02 May 2016
President Rafael Correa said Saturday he is studying te possibility to sell several State assets, including a hydroelectric plant, to address the economic difficulties caused by the earthquake of last April 16.
“There have always been assets for sale, seized TV networks have always been on sale,” said Correa, adding that whenever he has sought to sell seized TV networks (TC Television and GamaTV), their former owners, the Isaias family (according to Correa), have threatened to prosecute the buyers.
“Something that has not been clear is the sell of Banco del Pacifico, because an appraisal is needed. An appraisal is currently being made and Banco del Pacifico will be put for sale.”
The two media mentioned and Banco del Pacifico passed to the State after the financial crisis that hit the country in 1999, considered the worst in the national history.
