Company News Mar 30, 2021 3:58 PM
ISA’s Board of Directors approved the sale of Internexa.
The company announced the project to sell 100% of the shares that ISA has in InterNexa, Valora Analitik reported.
“Grupo ISA has been characterized by making the best decisions, focused on maintaining validity and leadership in its businesses, increasing competitiveness and generating sustainable value for stakeholders and society,” the company said.
The company said that this decision responds to its strategic goals, since Internexa will be able to access greater growth and consolidation of its businesses in the Telecommunications and ICT market in the region.
“Thus, after a rigorous analysis of different scenarios, which was accompanied by technical, financial, and legal experts, the Board of Directors approved the sale of the shares in Internexa,” Grupo ISA said.
ISA will be able to better manage its portfolio, directing its capital investments towards the most profitable and efficient alternatives for the group.
“According to market analysis, this is a good time for an operation of these characteristics as there are strategic and financial investors in the region with an appetite to grow or enter the business,” ISA said.
The company recalled that this sector is dynamic, with short technology cycles and permanent intensive investment requirements.
Bottom-Line: This news raises all kinds of questions. Unfortunately, most of them are morbid curiosity questions – like what did Ecopetrol think – rather than penetrating analytic questions.
ISA got into this business over two decades ago when there were thought to be synergies between long-haul telecommunications and companies with rights-of-way. Hence ISA strung fiber on its high-tension towers and Promigas buried it along that company’s gas pipelines.
Now the benefits of combining disparate businesses are not so clear with telecom at least.
A cautionary tale as Ecopetrol tries to sell its synergy story between Cenit and ISA?