What Telecom Italia says…and what’s real
What Telecom will say… |
What’s real… |
| Telecom Italia has invested millions in Bolivia and benefitted the country. | Telecom did invest millions, and coverage did increase. However, on balance performance has been at best average for a multinational; there have been many deficiencies in service; and vast amounts of capital have been taken out of instead of being reinvested in an impoverished country still woefully under served. |
| Telecom Italia has been unfairly pressured by regulators. | Regulators before and since the election of Evo Morales have called attention to service failures and insufficiencies. It is the Government’s obligation to regulate in the public interest. |
| Telecom Italia had the right to pull millions out of Bolivia |
Telecom Italia waited for years to make it’s move. Finally, under a lame duck, transitional government, secured highly questionable measures certifying their investments and giving a green light to capital draw-downs. Bolivia has legitimately questioned and legally challenged measures of past governments. |
| Telecom Italia is a good company that has done wonders for Bolivia. | Telecom Italia is accused of all manner of foul play and dirty tricks. Today, Telecom Italia faces charges of espionage. Even forming a new board has proven comically complicated. |
| Bolivia is forcing private foreign investment out. | After more than 2 decades of free reign and great run, investors in Bolivia face a government determined to ensure that investment also benefits the country’s majority. This means, in the words of President Morales, that companies must be “partners, not bosses”. Over 40 contracts were successfully renegotiated with multinational gas and oil companies, to strike this new balance – and none left. |
