Fenosa, Nicaragua Drift
Over Stake Sale Terms
Union Fenosa SA does not
believe it can sign a
preliminary agreement at
present to give the
Nicaraguan government a
16 percent stake in its
unit there, following
changes made by
President Daniel
Ortega's administration,
sources at the Spanish
utility said.
'Union Fenosa cannot
accept the significant
changes made by the
Nicaraguan government to
the protocol that was
agreed on April 4 after
mediation with the
Spanish government,' a
source said.
According to the
pre-agreement, Nicaragua
would take on 16 percent
of Fenosa's unit in the
country in exchange for
some $10 million it owes
the Nicaraguan
government. |
