Ecuadorian Bank Board Opens a Way to Invest in Media

Ecuadorian Bank Board by section two of Resolution No. JB-2010-1779, decided bank shareholders to acquire up to 24.99% in media companies.

Several analysts agree them there´s a contradiction in this resolution because current constitution commands the financial institution shareholders  to sale all companies until October 20^th including media.

National Debt Group´s director Alberto Acosta says when the Bank Board allow to participate up to 25% in mass-media even a allied bankers group could control even more than 50% shares of one or more media. Article one of the Bank Board regards to sale of media and left out other companies outside system.

According Acosta the current constitution force all Ecuadorian bankers to sale their media companies until October 20^th, 2010 therefore the unexpected resolution of Bank Board it doesn´t have sense, said former Ecuadorian President Assembly.