Lexincorp advised Sky Technologies

Sky Technologies, a Panamanian telecommunications company, recently informed that it will invest in El Salvador for its establishment the amount of $50 million dollars. The company stated that its investment has as principal purpose the Mobil telephony, implementing the Motorola iDEN system, which is used for data transmission, integrating digital radio, Mobil phone with GSM technology and text messages known as SMS.

The project is the result of a joint venture within Panamanian and Salvadorian business groups. The Panamanian conglomerate is presided by Joseph Fidanque III, who is the president of the company in Panama, and has brought together companies as Empresa General de Inversiones, the law firm Morgan and Morgan, as well as the telephonic group MobilPhone. The Salvadorian group in presided by Juan José Borja Papini.

?Is a Central America investment that came to stay, and from El Salvador it shall expand to neighbor countries?, stated Manuel Telles Suvillaga, Salvadorian Partner of the Central America law firm LEXINCORP, which provides legal services to Sky Technologies on its installation process.

The president of SkyTechnologies in Panamá, Joseph Fidanque III, stated that the ?Politic, economic, and the telecommunication and free competition regulation? influenced the investment in El Salvador.