Colombian antitrust body oks Telefonica's bid for ETB

Colombia's Superintendency of Industry and Commerce (SIC) has authorized Telefonica to bid for a stake in Colombian state-controlled operator Empresa de Telecomunicaciones de Bogota (ETB). ETB seeks to sell a 36.6 percent stake to the new partner in a public auction, and will select the partner that offers the highest amount per share. SIC has now ruled that Telefonica can take over ETB, if it wins the auction scheduled for 15 September. SIC believes that, despite "high concentrations of some of the markets related to telecommunication services", the merger would not generate a "significant restriction to competition". However, the regulator underlined it will carry out a strict control on the two companies following their possible merger, to avoid anti-competitive behaviour and actions.