Colombia’s state-controlled telecommunication company Empresa de Telcomunicaciones de Bogota SA, or ETB, said Thursday its net profit over the first nine months of this year rose 82% compared with the same period a year ago to 268 billion Colombian pesos (US$136 million).
ETB’s revenue from local and long-distance calls and from Internet connections fell 1.2% to COP963 billion, it said in a filing to the Colombian market regulator.
ETB, which is 86.59% owned by the Bogota city council, is currently seeking a controlling private partner to invest in its expansion.
The process was suspended, though, by a local court after the company’s labor union sued.