Honduras Telecomunications Company “Hondutel” to become public limited company

The government of Honduras has approved the transformation of Honduran Telecommunications Company (Hondutel) into a public limited company.


Honduras Telecommunications Company “Hondutel”

A trust and a bank will be hired to manage Hondutel’s financial resources. According to Congressman Renen Inestroza, Hondutel needs around USD 500 million to avoid bankruptcy.

The state-owned operator reached a loss of HNL 574 million in 2013.

Hondutel’s loss widened from HNL 500 million in 2012 and HNL 250 million in 2011. Hondutel’s financial situation deteriorated mainly due to the significant decrease in revenue generated by national and international calls in recent years, as well as a payroll for over 4,000 employees. Hondutel’s daily losses are currently estimated at HNL 1.5 million.

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