Colombian Congress approves Coltel capitalization

Friday 16 December 2011 | 10:22 CET | News
The Colombian Congress has approved the capitalization of Colombia Telecomunicaciones (Coltel) by USD 1.8 million, El Espectador reports. The project includes a possible merger with Telefonica. Coltel will thus be able to pay pension liabilities of more than USD 3.8 million. Movistar will cover 52 percent of this amount, while the state will contribute the remaining 48 percent.

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Categories: General
Companies: Movistar / Telefonica- Movistar
Countries: Colombia
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