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Enron Mail |
----- Forwarded by Sharonda Stephens/Corp/Enron on 01/25/2001 10:49 AM -----
"ANN SCHMIDT, ENRON CORP." <ENRONPR@bloomberg.net< 01/25/2001 08:51 AM To: sharonda.stephens@enron.com cc: Subject: (BN ) Colombia's Medellin Utility Drops Isagen Investment, enron story Colombia's Medellin Utility Drops Isagen Investment, Papers Say 1/25/1 8:49 (New York) Bogota, Jan. 25 (Bloomberg) -- Colombia's largest municipal utility, Empresas Publicas de Medellin, won't seek to buy a stake in state-run generator Isagen because leftist guerrilla attacks on the power grid have increased its costs, newspapers said. The newly sworn in mayor of Medellin, Luis Perez, told a Senate hearing that the country's third largest city would instead seek to invest the estimated $400 million the purchase would have cost into programs to generate jobs in Medellin, the daily El Tiempo reported. ``There is no sense in crying over spilled milk,'' Mines and Energy Minister Carlos Caballero was quoted by El Tiempo as saying upon hearing the news. The government last year pushed back until 2001 its plans to sell the state's 77 percent stake in Isagen due to a series of lawsuits filed by EPM, as the Medellin utility is called. EPM alleged it had been discriminated against in the sales process because of anti-monopoly regulations. EPM was planning to purchase the government's stake in Isagen together with Enron Corp. of the U.S. to avoid the anti-monopoly regulations. AES Corp. of the U.S. and Union Fenosa of Spain were also interested in Isagen, Caballero said last year. --Robert Willis in Bogota (571)317-4000 bwillis@bloomberg.net or through the New York newsroom at (212) 318-2300/jrk Story illustration: To graph real year-on-year percentage change in Colombian economic growth, type {COGCRYOY <Index< GP <GO<} ; Regional news: News by category: NI COLOM Colombia NI EM Emerging markets NI LATAM Latin America NI ECO Economic news NI ANREGION NI COECO Colombia economy NI US NI GOV Government NI SPAIN NI NRG Energy NI UTI Utilities NI PZN Privatizations NI TLS NI MNG NI COS Company news: ENE US <Equity< Enron AES US <Equity< AES 1032Z CB <Equity< EPM UNF SM <Equity< Union Fenosa -0- (BN ) Jan/25/2001 13:49 GMT
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