The government of Honduras has intervened to take control of the country’s ailing state-owned PTO Hondutel (Empresa Hondurena de Telecomunicaciones), replacing its CEO Romeo Vasquez Velazquez with a special committee headed by finance minister Hector Guillen. BNAmericas, citing a report in local paper Proceso, says that the government has designated Hondutel to be in a ‘financial crisis’, impairing its ability to even pay salaries, and as such has appointed a team to take interim charge of the beleaguered firm. Vasquez Velazquez’s troubled period at the helm will end at the end of this month, it said.
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OVETEL Hondutel in government shake-up; CEO removed as firm restates urgent need for investment
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