ISA CEO Dismisses Fears of Meddling if Ecopetrol Buys Company
- ISA plans to sell $400 million in bonds overseas before summer
- Colombia-based company expects to sell Telecom unit this year
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Electricity utility Interconexion Electrica SA will retain its managerial independence if it gets bought by Colombia’s state oil company, according to Chief Executive Officer Bernardo Vargas.
Ecopetrol SA is in talks with the Finance Ministry to buy a 51.4% stake in the electricity transmission company, known as ISA, in a deal worth around $4 billion.