NewsWhore
06-27-2012, 03:20 PM
According to Next TV Latam, the sale of the assets of Dominican Republic cable TV operator Aster Communications has been suspended by the Civil and Commercial Chamber of Santo Domingo.
A judge ruled that the bidding process held in March this year by the Central Bank of the Dominican Republic, acting as Aster's administrator on behalf of the collapsed parent company Banco Intercontinental (Baninter), was flawed. A bid of US$27 million was accepted from local utility group Consorcio Energetico Punta Cana-Macao (CEPM) despite the fact that Servicios Ampliados de Telefonos (Satel) stated that it had intended to offer a higher amount but had been excluded from the bidding. In addition, auditing firm KPMG had previously estimated Aster's value at US$44 million and this had been set as the minimum offer price by the administrators, yet the winning bid was US$17 million below this.
www.telegeography.com/products/commsupdate/articles/2012/06/27/aster-sale-process-suspended-by-local-judge/ (http://www.telegeography.com/products/commsupdate/articles/2012/06/27/aster-sale-process-suspended-by-local-judge/)
More... (http://www.dr1.com/index.html#6)
A judge ruled that the bidding process held in March this year by the Central Bank of the Dominican Republic, acting as Aster's administrator on behalf of the collapsed parent company Banco Intercontinental (Baninter), was flawed. A bid of US$27 million was accepted from local utility group Consorcio Energetico Punta Cana-Macao (CEPM) despite the fact that Servicios Ampliados de Telefonos (Satel) stated that it had intended to offer a higher amount but had been excluded from the bidding. In addition, auditing firm KPMG had previously estimated Aster's value at US$44 million and this had been set as the minimum offer price by the administrators, yet the winning bid was US$17 million below this.
www.telegeography.com/products/commsupdate/articles/2012/06/27/aster-sale-process-suspended-by-local-judge/ (http://www.telegeography.com/products/commsupdate/articles/2012/06/27/aster-sale-process-suspended-by-local-judge/)
More... (http://www.dr1.com/index.html#6)