The country’s second largest telecommunications provider, Tricom, is preparing to be sold, according to Debt Wire, a subscription website on economic and financial intelligence information. Clave Digital reports that the information is based on sources close to the company and mentions an approximate figure of US$325 million when referring to the potential sale offer which has a moratorium of US$400 million, out of which US$200 million is expressed in bonds. The report states that the company’s board of directors, including its main members, Arturo Pellerano and Hector Castro Noboa, have had conversations with possible buyers. These two executives were sent to a criminal court last Wednesday, together with Raisa Gil de Fondeur and Juan Felipe Mendoza for their involvement in lawsuits filed by owners of commercial papers purchased at collapsed Bancredito where they were top executives (see DR1 Daily News 15 September 2005). Tricom was founded in 1988 as a commercial enterprise and was authorized to offer complete telecommunications services in the country in 1990. In 1998 it placed 5.7 million shares valued at US$74.1 million becoming the first Dominican company registered on the New York Stock Exchange (NYSE).