 On 16 April 2009, Finance Minister Maria Elsa Viteri embarked on a trip to Europe in a mission to present Ecuador's offer to buy back global bonds 2012 and 2030 at 30% of their current value.In May 2009, Ecuador announced that it had successfully bought 91% of the bonds at a cost of 35 cents on the dollar.In May 2008, the Ecuadorian government renegotiated radio spectrum franchises for mobile phone operators Porta and Movistar for a total price of 700 million dollars, far more than that recommended by studies conducted under previous governments, which had proposed granting the same franchises for only 70 million dollars.