Honduras Telecommunications Company “Hondutel”
Honduran state-owned telecommunications operator Hondutel reduced its losses to HNL 165.1 million up to August 2014, compared with a loss of HNL 415.7 million in the first eight months of 2013. Hondutel undertook a series of actions to improve its key financial indicators. While the operator will end the year with losses, they should be lower than the HNL 715.6 million lost last year. According to Hondutel’s estimates, losses could range from HNL 250 million to HNL 300 million (USD 14 million). The company said it recorded an increase in revenues from sales of telephone and internet services.
State telco Hondutel is planning to suspend 700 workers for a fourth-month period due to the company’s financial condition, El Heraldo reports. Hondutel is obliged to reduce its payroll in order to improve its finances and avoid bankruptcy. According to the report, 735 workers left voluntary over the recent months. The operator provides mobile and fixed telephony as well as internet services. Costa Rica operator ICE may invest USD 300-400 million in Hondutel, while Spanish telecoms operator Telefonica is also interested in making a strategic investment in the operator, according to previous reports.
Costa Rica operator ICE has started preliminary talks to invest in Honduran telecommunications company Hondutel, citing ICE telecommunications manager Jesus Palermo. The executive said that the two companies are already exploring potential business opportunities. Palermo added that this initiative is backed by Costa Rica’s ministry of Foreign Affairs. In April, ICE announced that the firm was expecting to start selling telecoms services in Nicaragua in the coming months, through a partnership with Enatrel. At that time, ICE CEO Teofilo de la Torre said that the telco was exploring other business possibilities in Central America.
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