Bloomberg News

Colombia’s EEB Says Plunge Not Justified by Financial Results

December 13, 2011

Dec. 13 (Bloomberg) -- Empresa de Energia de Bogota SA, Colombia’s second-biggest electricity distributor, said the “sudden and strong” plunge in its shares isn’t justified given its “solid” financial results.

The company, known as EEB, will begin trading today after Colombia’s financial regulator on Dec. 7 suspended it after shares plunged 17 percent over three days following mayor-elect Gustavo Petro’s comments that he would seek to merge it with other city-controlled utilities.

EEB commented on its share price in a regulatory filing late yesterday.

--Editors: Richard Richtmyer, Brendan Walsh

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

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


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus