Senator says State-owned TV channels were sold at “vile” price

Santo Domingo.- The commission investigating the sale of a 47.5 percent stake in State-owned TV channels Antena Latina and Antena 21, met with their counterpart who manage Baninter bank’s liquidation to negotiate the frequencies.

The television transmission rights were sold for US$6.6 million, despite that their price is US$40 million each, revealed senator Jose Rafael Vargas, who affirms that the deal is undervalued.

He said taxpayer property has been sold at a “vile” price, for which it must be returned to conduct a transparent transaction and warned against a repeat of the RD$55.0 billion Baninter fraud.

But Baninter liquidation commissioner Zunilda Paniagua affirms that the transaction was “entirely correct” and justified by documents and the rule for capital investment.

The commission said it will meet on an ongoing basis until the probe concludes and adopt the measures to take against those responsible.