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Ernst & Young starts the monetization process of the CNT
Posted On 21 Jan 2020
With the signing of a contract, the National Telecommunications Corporation (CNT) began the process for its asset monetization.
Ernst & Young starts the monetization process of the CNT
The contract was signed with the British firm Ernst & Young (EY) in Mexico City. Thus, EY formally becomes the investment bank that will accompany the process of evaluation, determination and implementation of a new business scheme and selection of a private operator for the temporary management of its operations.
The first mission of EY is to identify a legal and financial structure that prioritizes the temporary management of the assets of the CNT EP, through a private operator.
The contract with the British firm will be developed in two stages
The first phase will be the analysis and valuation of the company and will recommend the applicable business or association model to guarantee its sustainability and growth. For that stage EY will have a period of 180 days, counted from last Friday, January 17.
The first phase must be approved by the CNT board and the Delegated Management Coordinating Committee .
Subsequently, in the second phase, EY must structure the competitive process to execute the transaction selected in phase 1 and assist CNT in the qualification of the bidders and the valuation of the technical , economic and legal proposals , in order to determine the operator which will assume the temporary management of the company.
To conclude the phase, EY will have another 180 days.
Interested companies will be able to follow the entire process online, according to Martha Moncayo, manager of CNT.
“With the contract you can now sign out to the companies that are interested . This will be tied to a virtual data room where companies will be able to access the information that is still being collected and will be able to prepare for the proposal, ”he added days ago in a meeting with the media.
https://www.eltelegrafo.com.ec/noticias/economia/4/ernst-and-young-pmonetizacion-cnt
