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Colombian telecommunications company ETB said on Tuesday a judge has suspended its search for a strategic partner based on a complaint by workers.
ETB, or Empresa de Telecomunicaciones de Bogota, issued a statement saying it will fight the judge’s ruling.
The company’s labor union opposes the search for a partner and appealed to a court in the district of capital city Bogota.
In July ETB began its search for a strategic partner to provide capital. ETB, controlled by the city of Bogota, competes with Spain’s Telefonica and Telmex.
About 11.5 percent of ETB shares are traded on Colombia’s stock market. The company had almost $1 billion in sales last year. (Reuters)
