New ETB president not worried about share price drop

The president of Bogota‘s public telecommunications company, ETB, said he was not worried about recent movements of company shares in the Colombian Stock Exchange, financial publication Dinero reported Wednesday.

Saul Kattan Cohen said, “I am not concerned about the level at which the shares have closed, but about bringing the company forward, and this will be reflected in the share price of ETB.”

The share price ended Tuesday the day down by 2.37% and stood at $0.27. The University of the Andes economist, who took over as ETB president Monday, said that his experience is precisely in saving companies.

Kattan Cohen also said that ETB’s move into the mobile phone market will take longer than expected. His predecessor, Mario Contreras, said an ETB mobile telephone service would be available from January 19. However the new president said, “We will take a little bit longer in order to be ready.”

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