Aster sale process suspended by local judge

摘要

The sale of the assets of Dominican Republic cable TV operator AsterComunicaciones 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, which has been acting as Aster's administrator on behalf of the collapsed parent company Banco Intercontinental (Baninter), was flawed. A bid of USD$27 million was accepted from local utility group Consorcio Energetico Punta Cana-Macao (CEPM) despite the fact that another firm - Servicios Ampliados de Telefonos (Satel) - stated that it had intended to offer a higher amount but had been excluded from the bidding.