eTelecare buys majority stake in Nicaraguan firm

MANILA, Philippines - Listed call center operator eTelecare Global Solutions Inc. has acquired majority stake in a Nicaraguan company. In a disclosure to the Philippine Stock Exchange, eTelecare and wholly-owned subsidiary eTelecare Global Solutions - Singapore PTE Ltd., separately bought from Almori BPO Services Inc., a Texas-registered company, a total of 70 percent in eTelecare Global Solutions Nicaragua. Almori will own remaining stake. The purchase price plus the capital contribution to eTelecare Nicaragua will amount to $2.1 million, eTelecare said. "In addition, the company will make a $5-million line of credit available to eTelecare Nicaragua for the initial build-out of the facility and ramp-up of operations," the firm added. The listed company in January has also announced that it was forming a subsidiary in the United Kingdom and was contributing as much as $2 million into the unit. The company's facilities in the Philippines are located in Libis, Quezon City, Makati City, Alabang and Cebu. Cheryl M. Arcibal, GMANews.TV