Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

EEB Declines After Radio Report About Merger Tweet: Bogota Mover

Don't Miss Out —
Follow us on:

Feb. 4 (Bloomberg) -- Empresa de Energia de Bogota SA, the electricity provider in Colombia’s capital, dropped to a one-month low after W Radio reported the company’s newly appointed president had mentioned on his personal Twitter account a plan to merge city-controlled utilities.

Shares fell 2.2 percent to 1,330 pesos at 2:35 p.m. in Bogota, headed for its lowest closing price since Jan. 2. The company, which was added to the Colcap index last week, has rallied 4.3 percent this year.

Fernando Gomez, who was named EEB president last week, said on his Twitter social-media account that merging the energy provider with the city’s water utility would make a stronger company, W Radio reported on its website, without saying when the posting was made. The idea of merging the companies “is in the past,” Gomez said in response to the report in an interview broadcast on W.

“I don’t think the company needs significant changes or differences than continuing the path for growth and profits that it has handed to investors,” Gomez said on W.

A spokesman for EEB, Juan Felipe Gonzalez, declined to comment on Gomez’s Twitter posts. The Twitter account cited by W, @ferchogomez70, is private.

“The market didn’t like the Tweets from the new president,” Juan David Ballen, an analyst at Alianza Valores, said by e-mail.

Link to Company News:

To contact the reporters on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net; Oscar Medina in Bogota at omedinacruz@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.