Colombia: Congress raises concerns on possible collusion in Isagen sale

Colombia’s Tax Minister, Mauricio Carenas, has been called by congressmen to answer questions related to the sale of former state-owned power generator Isagén, despite near unanimous opposition from civil society and a significant block of political parties.

Senator Jorge Enrique Robledo is expected to grill the government Official, asking him to explain a series of recently-discovered documents that point to a possible agreement between Chilean company Colbun and Canada’s Brookfield to stage an ‘auction’, making sure Brookfield would walk away with Isagén with minimum competition.

Robledo has argued that the Government had already known, since the December 21st re-launch of the auction proceedings, that Colbun would not be taking part. However, the process continued despite having a single bidder. Mr. Robledo and his fellow congressmen have argued that this could be considered a case of collusion, punishable under Colombia’s competition law.

Full content: El Espectador

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.